US crude closed oil nearly 3 percent, rebounding from falls in the previous session as more energy firms cut investments and the dollar weakened.» Read More
*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...
Oil production is at the highest in a decade in Nigeria, but the surge is not likely to last long.
MILAN, Oct 1- Italian prosecutors investigating state-backed firm Eni SpA over the purchase of a Nigerian oil field three years ago allege that at least half of the $1.1 billion paid was used to bribe local politicians, intermediaries and others, according to official documents and a person close to the investigation.
MINNEAPOLIS, Sept 18- A string of missteps at a $10 billion Angolan liquefied natural gas venture has hurt Chevron Corp's reputation as a top-notch operator of profitable energy projects around the world.
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.
The Italian cabinet on Thursday is set to unveil tax incentives, consulting services and faster start-up rules for foreigners doing business in Italy, in a drive to lure more foreign investment.
U.S. crude oil prices climbed to the highest level in 10 days, after better-than-expected employment and manufacturing data brightened the economic outlook.
European shares closed mixed on Wednesday despite investor sentiment being boosted by better-than-expected gross domestic product (GDP) growth from the U.S.
U.S. stock index futures shaved their early gains following a weaker-than-expected durable goods orders report and as Apple shares weighed.