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Stock Market & Financial Investment News

News Breaks
January 10, 2014
13:52 EDTEEni closes export pipeline in Nigeria due to sabotage, WSJ reports
Eni SpA has closed the Tedidaba-Brass pipeline, an export pipeline, following a sabotage in the Niger Delta of Nigeria, reports the Wall Street Journal. The pipeline is operated by a local Eni joint venture, and typically carries the Brass grade for export. Reference Link
News For E From The Last 14 Days
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September 18, 2014
12:23 EDTEEni makes oil discovery in Ecuador, estimates suggest 300M barrels of oil
Eni has made a significant oil discovery in Ecuador at the Oglan-2 exploration well located in Block 10, approximately 260 kilometers southeast of Quito. Early estimates suggest that the Oglan discovery potentially contains about 300M barrels of oil in place. The well, drilled to a total depth of 6,450 feet, encountered a 236 foot net crude oil column. During a production test, constrained by surface facilities, the well flowed at 1,100 barrels of oil per day. The data acquired in Oglan well indicate a production capacity per well up to 2,000 barrels of oil per day. Eni will immediately begin the studies for the commercial exploitation of the Oglan discovery. Reference Link
September 11, 2014
07:10 EDTEEni: no illegal conduct on Opl 245 acquisition
In relation to the preliminary investigation launched by the Milan Prosecutor's office on the acquisition of the block OPL 245 in 2011, Eni (E) continues to deny any illegal conduct. Eni highlights that it entered into agreements for the acquisition of the block only with government of Nigeria and Shell (RDS.A). The entire payment for the issuance of the license to Eni and Shell was made uniquely to the Nigerian government. Eni notes that, according to documents received yesterday as part of a foreign procedure ordering the seizure of a third party's bank account, following a request by the Prosecutor of Milan, Eni's CEO and Chief Development, Operations and Technology Officer are under preliminary investigation by the Milan prosecutor's office. Eni is cooperating with the Milan prosecutor's office, and is confident that the correctness of its actions will emerge during the course of the investigation.

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