Ithaca Deal ‘Ticks All the Boxes,’ Eni’s CFO Says
Eni’s deal to acquire Ithaca Energy marks a “strategic move to significantly strengthen its presence” on the U.K. Continental Shelf and “ticks all of the boxes” for the Italian energy company.
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International Managing Editor focused on covering areas from Africa and Asia to Europe and LatAm, especially Venezuela. Pietro previously worked at Bloomberg Venezuela and LatinPetroleum.com (LatinPetroleum eMagazine) in Caracas, among other publications. Pietro also previously worked for Energy Intelligence, Jefferies, Morgan Keegan in the U.S. as well as Banco Mercantil del Norte (Banorte) in Mexico City and Banco Santiago de Leon in Caracas. Pietro holds a finance degree from the University of Houston and speaks English and Spanish and has a good understanding of Portuguese.
Eni’s deal to acquire Ithaca Energy marks a “strategic move to significantly strengthen its presence” on the U.K. Continental Shelf and “ticks all of the boxes” for the Italian energy company.
Chevron Corp.’s planned $53 billion acquisition of Hess Corp. could potentially close in 2025, but in the meantime, the California-based energy giant is in a “read only” mode as an Exxon Mobil-led consortium boosts Guyana production.
Services company Weatherford International executives are focused on making deals that, regardless of size or scale, can be integrated into the business, President and CEO Girish Saligram said.
Venezuela’s oil exports to world markets will not stop, despite reimposed sanctions by Washington, and will likely continue to flow with the help of Iran—as well as China and Russia.
Australia's Santos expects first oil to flow from the 80,000 bbl/d Pikka Phase 1 project in Alaska by 2026, diversifying Santos' portfolio and reducing geographic concentration risk.
Exxon Mobil, which took a final investment decision on its Whiptail development on April 12, now estimates its six offshore Guyana projects will average gross production of 1.3 MMbbl/d by 2027.
Exxon Mobil took the first swing in defense of its right of first refusal for Hess' interest in Guyana's Stabroek Block, but Chevron isn't backing down.
The outlook for Venezuela’s oil industry appears uncertain, Rystad Energy said April 4 in a research report, as a license issued by the U.S. Office of Assets Control (OFAC) is set to expire on April 18.
The Barnett Shale is “ripe for fracs” and offers opportunities to boost natural gas production to historic levels, BKV Corp. CEO and Founder Chris Kalnin said at the DUG GAS+ Conference and Expo.
The U.S. and Louisiana have the ability to change global emissions through the export of LNG, although new applications have been frozen by the Biden administration.
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