Latest news with #EniSpA
Bloomberg
29-05-2025
- Business
- Bloomberg
Kazakhstan Mulls Building Key Gas Refinery Without Oil Majors
Kazakhstan is considering building a natural gas refinery at the Karachaganak oil field by itself, after the cost of the development proposed by international oil companies ballooned to about $6 billion, according to people familiar with the matter. The companies, led by Eni SpA and Shell Plc, have delayed the planned completion of the facility to 2030 from the previously planned date of 2028, the people said. They have also asked the Kazakh state to help cover about $1 billion of the project's budget in order to make it commercially viable, the people said.
Yahoo
14-05-2025
- Business
- Yahoo
Eni Offers $1B Bond
This article was first published on Rigzone here Eni SpA returned to the United States bond market with the launch Tuesday of an offering with a nominal amount of $1 billion. The 10-year bond, which matures 2035, has an annual interest of 5.75 percent. It was placed at a re-offer price of 99.184 percent. Eni tapped Barclays, BofA Securities, Citigroup, Goldman Sachs International, IMI-Intesa Sanpaolo, JP Morgan, Morgan Stanley, Natixis, Santander, SMBC and Wells Fargo Securities as joint bookrunners. 'Eni's offering generated significant interest from the market, reaching a demand of about $5.7 billion, from more than 200 institutional investors', the Italian state-backed integrated energy company said in an online statement. 'The proceeds of the issuance are expected to be used to fund Eni's ordinary financing needs', Eni added. At the end of the first quarter (Q1), Eni had EUR 4.78 billion ($5.31 billion) of short-term debt and EUR 4.69 billion of current portion of long-term debt, according to its quarterly report April 24. Eni logged EUR 1.41 billion in adjusted net profit attributable to shareholders for the January-March 2025 period, down 11 percent from the same quarter last year as oil prices weakened and oil and gas output fell. Before adjustment for nonrecurring or extraordinary items, net income was EUR 1.17 billion, down 3 percent year-on-year. Eni saw liquid production drop 1 percent year-over-year to 786,000 barrels a day. Natural gas production declined 9 percent to 4.5 billion cubic feet per day. Upstream turnover totaled EUR 5.41 billion, down 4 percent year-on-year. Refining throughput decreased 8 percent year-on-year to 5.86 million metric tons. Sales of chemical products totaled 800,000 metric tons, down 7 percent. The refining and chemicals segment logged EUR 4.93 billion in sales, down 13 percent. Take control of your THOUSANDS of Oil & Gas jobs on Search Now >> 'The refining business reported a proforma adjusted loss of EUR 91 mln, lower both y-o-y and sequentially due to a continuing deterioration in products crack spreads', Eni said. 'The chemicals business reported a loss of EUR 0.24 bln amidst a prolonged downturn of the European sector due to lower demand and margin pressure from cost-advantaged players'. Eni sold 2.8 billion cubic meters (98.88 billion cubic feet) of liquefied natural gas in Q1 2025, up 4 percent year-on-year. Gas sales totaled 12.12 Bcm, down 22 percent. Eni's 'Global Gas and LNG Portfolio' segment generated EUR 5.59 billion in sales, up 9 percent. Eni's biorefining arm Enilive logged EUR 4.76 billion in sales, down 9 percent year-on-year. Plenitude, the company's renewables unit, registered EUR 3.72 billion in sales, up 11 percent year-on-year. Eni recorded EUR 1.08 billion in adjusted operating profit, up 9 percent year-on-year. Pro-forma adjusted earnings before interest and taxes fell 11 percent, which Eni attributed to Brent prices decreasing 10 percent. 'The resulting free cash flow of EUR 1.5 bln and the proceeds from the portfolio management of about EUR 3 bln, mainly relating to the closing of the KKR 25 percent investment in Enilive, funded EUR 1.2 bln of cash returns to shareholders (including the third installment of the 2024 dividend for EUR 0.76 bln) and contributed to reduce net borrowings of almost EUR 1.8 bln to EUR 10.3 bln from 2024 year-end', Eni said. To contact the author, email More From The Leading Energy Platform: North America Loses Rigs for 10 Straight Weeks President Trump Visits Saudi Arabia Macquarie Strategists Forecast 7.6MM Barrel USA Crude Inventory Build APA to Slow Down Activity amid Price Volatility >> Find the latest oil and gas jobs on << Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Washington Post
24-04-2025
- Business
- Washington Post
Eni SpA: Q1 Earnings Snapshot
ROME ITALY, Italy — ROME ITALY, Italy — Eni SpA (E) on Thursday reported first-quarter profit of $1.23 billion. The Rome Italy, Italy-based company said it had net income of 76 cents per share. Earnings, adjusted for non-recurring costs, came to 92 cents per share. The results exceeded Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 91 cents per share.
Yahoo
24-04-2025
- Business
- Yahoo
Eni SpA: Q1 Earnings Snapshot
ROME ITALY, Italy (AP) — ROME ITALY, Italy (AP) — Eni SpA (E) on Thursday reported first-quarter profit of $1.23 billion. The Rome Italy, Italy-based company said it had net income of 76 cents per share. Earnings, adjusted for non-recurring costs, came to 92 cents per share. The results exceeded Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 91 cents per share. The energy company posted revenue of $24.16 billion in the period. _____ This story was generated by Automated Insights ( using data from Zacks Investment Research. Access a Zacks stock report on E at Sign in to access your portfolio
Bloomberg
24-04-2025
- Business
- Bloomberg
Eni Sees Lower Cash Flow, Maintains Buyback by Cutting Costs
Eni SpA reduced its outlook for free cash flow this year following the oil price slump triggered by global trade tensions, but signaled no impact on its share buybacks as it took action to reduce spending. The Italian company is the first major oil and gas producer to report first-quarter results, and analysts including RBC's Biraj Borkhataria also expect Eni's peers to review their plans for buybacks and other spending after the price of a barrel of crude plunged into the $60s.
