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Rosneft agreed to sell 8.99% interest in Saras S.p.A.
Rosneft JV Projects S.A. (Luxembourg), an indirect subsidiary of Rosneft Oil Company, has agreed to sell to institutional investors 85,481,816 ordinary shares in Saras S.p.A., representing approximately 8.99% of the total share capital in Saras S.p.A., at a price of EUR 1.90 per share, through an accelerated bookbuilt offering (the Offering). The share sale was closed at a premium of over 38% to the initial purchase price and is an example of efficient portfolio management and optimization program of Rosneft.

date.png28 Oct 2015 06:44 | comments.png 0 Comments | tags.png europe italy refinery rosneft saras [ More ]

Lukoil Takes Full Control Of ISAB Refinery
LUKOIL has finalized a transaction to purchase the remaining 20-percent share in the joint venture running the ISAB refinery, located in the vicinity of Priolo (Sicily), from the Italian ERG. Thus the company became the sole owner of the refinery.

date.png07 Jan 2014 09:23 | comments.png 0 Comments | tags.png europe italy lukoil refinery [ More ]

The commercial activities of the Terminal; FSRU Toscana; has been started
The company OLT Offshore LNG Toscana communicates that the activity of commissioning of the Terminal “FSRU Toscana” has been successfully finalized on last December 19th. As anticipated, the company communicates also that on December 20th the plant started the commercial activities. At full capacity, the plant will have a regasification capacity of 3.75 billion cubic meters per year, about 4% of the national demand.

date.png30 Dec 2013 06:48 | comments.png 0 Comments | tags.png eon europe italy lng [ More ]

Saipem Board of Directors approves the sale of Firenze FPSO to Eni
The Board of Directors of Saipem S.p.A. has approved today the signing of an agreement with Eni for the sale of the Firenze FPSO (Floating Production Storage and Offloading) business line for €336 million. The agreement will see the sale to Eni of the Firenze FPSO unit, currently deployed in the Eni-operated Aquila field off the coast of Puglia, together with the on-board processing plant. The sale also includes existing related contracts, including those in place with production and vessel operations personnel. The contract signed with Eni in 2009 provided for the option to purchase the vessel Firenze FPSO alone subsequent to the conversion and commissioning of the vessel, which was completed at the end of last year.

date.png16 Dec 2013 07:00 | comments.png 0 Comments | tags.png eni europe fpso italy saipem services [ More ]

Testing activities of the Terminal "FSRU Toscana" are going to be completed
Commissioning of the regasification plant of OLT Offshore LNG Toscana is proceeding well and close to completion. The Terminal is fast approaching commercial operations, in line with the company's program. The start of commercial activities is planned, in fact, within mid December.

date.png19 Nov 2013 06:45 | comments.png 0 Comments | tags.png europe italy lng [ More ]

ERG completes exit from the refining sector
The Board of Directors of ERG S.p.A., which met today, approved the exercise of a put option on the remaining 20% stake held in the ISAB Refinery, valued at 400 million Euro (excluding inventory). Following this transaction, ISAB S.r.l. will be wholly owned by LUKOIL.

The transaction closing is scheduled to take place by the end of 2013 (see Press Release dated 31 January 2012).

Luca Bettonte, ERG's Chief Executive Officer, commented: “with this transaction ERG completes its exit from the refining business, in keeping with the strategy to invest in less volatile sectors. The transaction will allow us to further consolidate our financial structure during the persistently difficult economic situation. ERG however still maintains a significant industrial presence at the Priolo site by way of the ERG Power and ISAB Energy thermoelectric plants.”

date.png12 Oct 2013 08:26 | comments.png 0 Comments | tags.png erg europe italy lukoil refinery [ More ]

Converting Mantova refinery into a products logistics hub
MOL Hungarian Oil and Gas Public Limited Company hereby informs the capital market participants that the progressive transformation of its Mantova refinery into a products logistics hub starts in January 2014. This transformation is a clear sign of MOL Group’s commitment to invest in a solution which allows improving its competitive position in Italy choosing a sustainable path, despite the tough economic environment in Italy.

date.png05 Oct 2013 07:46 | comments.png 0 Comments | tags.png europe italy mol refinery top [ More ]

BP, SOCAR, Total and Fluxys join the TAP project
The Trans Adriatic Pipeline AG (TAP) today announced that BP, SOCAR and Total - members of the international consortium developing the giant Shah Deniz field in Azerbaijan - have exercised their option to join the Trans Adriatic Pipeline AG.

date.png30 Jul 2013 14:08 | comments.png 0 Comments | tags.png albania bp europe fluxys greece italy pipeline socar top total [ More ]

Eni: Project for the renovation and recovery of the Gela refinery
Eni has met today with National and Regional Institutions and with the Trade Unions to announce a project for the renovation and recovery of the Gela refinery. The aim of the new project is to create an economically sound refinery capable of meeting the challenges of a competitive and constantly evolving market. The refinery will also be redesigned to be more environmentally friendly and respectful of the local area.

date.png17 Jul 2013 15:14 | comments.png 0 Comments | tags.png eni europe italy refinery [ More ]

Shah Deniz Consortium selects the Trans Adriatic Pipeline (TAP) as European export pipeline
At a press conference held by the Shah Deniz Consortium (SDC) today in Baku, Azerbaijan, the SDC confirmed that the Trans Adriatic Pipeline has been selected to transport Shah Deniz II gas to Europe.

date.png30 Jun 2013 08:36 | comments.png 0 Comments | tags.png albania europe greece italy pipeline tap [ More ]
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