BP and partners agree to resume exploration in Libya next year

Work under the contract has been suspended since 2014

Eight energy firms pledge methane reductions from natural gas

BP, ExxonMobil, Shell, Statoil and Total are among eight energy companies that have committed to further reduce methane emissions from their natural gas assets. The firms, which include Eni, Repsol and Wintershall, have also agreed to encourage others across the natural gas value chain – from production to the final consumer – to follow suit. […]

BP to buy 10% stake in giant Egyptian gas field

BP has agreed to buy a 10% stake in a giant offshore gas field in Egypt. The company paid $375 million (£297.9m) for the share of Eni’s Shorouk Concession, which includes the Zohr gas field. It is believed to be the largest gas discovery in the Mediterranean, containing an estimated 850 billion cubic metres of gas. It was discovered in August 2015 by Eni, which […]

Oil and gas bosses call for ‘effective’ climate deal

The CEOs of 10 global oil and gas companies have called for an “effective” climate change agreement at the COP21 conference in Paris. BG Group, BP, Eni, Pemex, Reliance Industries, Repsol, Saudi Aramco, Shell, Statoil and Total make up the Oil and Gas Climate Initiative (OGCI). They recognise the ambition to limit global average temperature rise to […]

Russian oil “too large to neglect”

Russia’s potential for growth in the oil sector is too big an opportunity to miss. That’s the view of Franco Magnani, Executive Vice President, North Europe and Russia of Eni who was speaking at the International Petroleum Week conference yesterday. Mr Magnani said: “The potential of Russian resources are in the order of 310 billion […]

Italian oil giant starts production in Gulf of Mexico

An Italian oil and gas giant has started production in the Gulf of Mexico, it announced. Eni, which has an 8.5% stake in the field operated by Anadarko Petroleum, said the Lucius field includes six subsea wells. The company’s share of daily production is expected to be around 7,000 barrels of oil equivalent per day […]

EU bank gives €1.3bn for Italy’s energy security

The European Investment Bank (EIB) has approved a €1.3 billion (£1.08bn) loan to help support the security of gas supply in Italy. The cash will help Italian oil and gas firm Eni’s 26 offshore projects, which include maintaining and upgrading existing wells and facilities as well as installing new platforms. Some of the projects will […]

UK Jasmine field produces first gas

First gas has been produced from the Jasmine field (pictured) in the UK’s North Sea. The field, claimed to be one of the largest discoveries in the UK in the last 10 years, was found in 2006 by its operator ConocoPhillips, a US explorer, which holds a 36.5% stake together with Italian firm Eni (33%) […]

Paul McCartney and co back Save the Arctic campaign

The Beatles’ musician once sang “Baby, you can drive my car!” But Paul McCartney seems to have changed his tune, today joining a host of other stars in backing a “Save The Arctic” campaign launched at the Rio+20 summit. Hollywood star Penelope Cruz, Virgin boss Richard Branson, American actress Lucy Lawless (pictured) and British boy […]

ENI-Rosneft Arctic deal reveals offshore trend

This week’s deal between ENI and Rosneft to explore the Russian Arctic reveals the growing importance of offshore oil and gas, according to analysts. This week the Italian and Russian energy firms said they would be looking for oil and gas together in the offshore Arctic region. “It reflects the broader industry trend of International […]