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Latest E News From Around the Web
Below are the latest news stories about Eni Spa that investors may wish to consider to help them evaluate E as an investment opportunity.
Eni (E) makes downward revisions for oil price forecasts since the coronavirus pandemic has dented global energy demand.
Royal Dutch Shell (RDS.A) and ExxonMobil (XOM) issued updates on their upcoming Q2 earnings, while BP plc (BP) agreed to sell its global petrochemicals business for $5 billion.
Nasdaq futures are down too, after the tech index yesterday continued to do what’s become a habit -- touch another record high. Monday's 10.4% rise in industrial orders also showed Europe's biggest economy is past the worst of the COVID-linked downturn.
(Bloomberg) -- Eni SpA became the latest oil company to cut its long-term price assumptions, saying the coronavirus pandemic would have a lasting impact on the industry.Eni now sees benchmark Brent crude at $60 a barrel in 2023 real terms, down from a previous estimate of $70, the company said late Monday, warning of impairment charges. Rivals Royal Dutch Shell Plc and BP Plc have also cut price forecasts as the lockdown-induced slump batters their business, forcing producers to reassess the value of their assets amid a shift to cleaner energy.“Having considered the prospect of the pandemic having an enduring impact on the global economy and the energy scenario, Eni has revised its view of market fundamentals,” the Rome-based producer said in a statement. The company said it would stick...
Eni (E) estimates it will take a €3.5B impairment charge plus or minus 20% in Q2, including a devaluation of tax credits recorded in connection with tax-loss carryforwards, after lowering its long-term assumptions for Brent crude oil to $60/bbl in 2023 real terms compared to $70/bbl previously.Eni says the estimate...
The new gas discovery strengthens Eni's (E) upstream portfolio.
Eni ([[E]] -1.1%) has made a new gas discovery in the Mediterranean Sea offshore EgyptThe company says that the discovery of Bashrush demonstrates the significant gas and condensate potential of the Messinian formations, and it will now be tested for production and its development options will be screened with the aim of...
The long struggling shale pioneer Chesapeake Energy (CHK) filed for Chapter 11 bankruptcy protection, while Italy's Eni SpA (E) acquired three wind farm projects.
(Bloomberg Opinion) -- It’s the mother of all payouts.The $75 billion that Saudi Aramco doles out in dividends every year dwarfs what any other listed company gives to shareholders. It’s roughly equivalent to the payouts from Exxon Mobil Corp., Royal Dutch Shell Plc, Chevron Corp., BP Plc, Total SA, PetroChina Co., Eni SpA, Petroleo Brasiliero SA and China Petroleum & Chemical Corp. or Sinopec — put together.That makes Chief Executive Officer Amin Nasser’s promise to continue that level of returns for the next five years an extraordinary vote of confidence in an oil market awash with uncertainties. Saudi Aramco will be prepared to borrow money to ensure that it meets its commitment this year despite oil prices heading into negative territory, he said this month.Running up debts to keep ...
On its face, BP (NYSE:BP) stock looks like a wonderful pick for income investors. BP's dividend now yields over 10%. That seems to be hugely attractive for a large, diversified oil company.Source: FotograFFF / Shutterstock.com Indeed, that yield is the highest among the largest oil producers, even for investors willing to look overseas for oil stocks. The dividends of Italy's Eni S.p.A. (NYSE:E) and France's Total S.A. (NYSE:TOT) are close to that of BP, but neither European company's yield is over 10%.The market, however, is aware of BP's dividend and is pricing BP stock accordingly. This isn't a case where investors have a wonderful opportunity to get double-digit annual returns, excluding share-price appreciation.InvestorPlace - Stock Market News, Stock Advice...