Oil producers across the country face headwinds, but majors have stressed the sanctity of the dividend, Stewart Glickman tells CNBC.» Read More
Italy's Eni cuts dividend and suspends buybacks - becoming the first oil major to reduce payouts amid a steep oil price decline.
European equities closed flat on Thursday, as investors reacted to earnings and banking news.
US crude closed oil nearly 3 percent, rebounding from falls in the previous session as more energy firms cut investments and the dollar weakened.
OPEC's secretary general says oil prices will remain around their current levels for around a month before rebounding.
*Eni urges OPEC to step in to stop price slide. *OPEC sticks to guns, defends decision not to intervene. DAVOS, Switzerland, Jan 21- OPEC defended on Wednesday its decision not to intervene to halt the oil price collapse, shrugging off warnings by top energy firms that the cartel's policy could lead to a huge supply shortage as investments dry up.
Brent has fallen by more than 50 percent since June amid oversupply and OPEC's decision not to curb output despite a fast-growing U.S. shale industry. The heads of both France's and Italy's largest energy producers, Total and ENI Spa, said Wednesday they were cutting capital expenditure next year, including U.S. shale investments. At 1505 GMT, Brent crude for...
Global demand for oil from OPEC next year will be less than expected because of weaker growth in consumption and the U.S. shale boom.
Falling oil prices have side-swiped Venezuela's government finances, spurring default concerns, but it isn't clear if contagion effects will emerge.
Oil production is at the highest in a decade in Nigeria, but the surge is not likely to last long.
The head of Iraq's South Oil Company also insists that current developments have not affected and will not affect oil operations in the south.
An oil and gas giant, several banks and Switzerland-based food megacorp Nestle are among more than a dozen financial backers of the Rome event.
Italy proposed new managers for a number of state-backed companies on Monday in a shake-up aimed at breaking with old-style cronyism.
An Italian court has convicted the CEO of Eni to a prison sentence and a ban from holding public office for violating environmental norms.
Tensions between Russia and the West have flared once again—this time over gas supplies, but fund managers say Iran-style sanctions look unlikely.
Companies are preparing to launch unmanned aircraft in the Arctic this summer to aid in energy exploration, climatology research and shipping.
Paolo Scaroni, CEO of ENI, says the company is comfortable growing its dividend and continuing with its share buyback program.
Winter weather probably took a bite out of January's retail sales, while jobless claims data may also be affected.
Italian energy company Eni started closing the flow stations on a large Nigerian pipeline because of a fire.
"I am doubtful that Libyans will not catch this opportunity of becoming the new Abu Dhabi or the new Qatar," says Eni CEO Paolo Scaroni.
Paolo Scaroni, CEO of ENI, says the company will continue to supply fuel to Alitalia if the airline's survival is assured.