Connect to share and comment

ENI surprises with firm profits, shares rise

Italian oil major ENI reported unexpectedly strong results for the third quarter on Wednesday despite a drop in production due to "geopolitical factors" in Nigeria and Libya. The price of shares in the group, known for its logo of a dog with six legs, jumped by 3.37 percent to 18.72 euros. The overall Milan market was up 0.89 percent. The company said adjusted net profit was 1.17 billion euros ($1.60 billion), down 29.4 percent compared to the figure in the same period in 2012.

Algeria expects swift progress in Eni-Sonatrach probe

ALGIERS, March 8 (Reuters) - Algeria expects its investigation into allegations of corruption involving state energy company Sonatrach and Italy's Eni to progress rapidly once it receives responses to requests for assistance from overseas authorities. Algiers public proscutor Belkacem Zeghmati launched the probe last month after Milan prosecutors said they were investigating Eni head Paolo Scaroni over alleged bribes paid to win contracts in Algeria for Saipem, in which Eni holds a 43 percent stake.

Algeria vows tough action in Italian bribery scandal

Algeria vowed Wednesday to take tough action against any officials at state energy firm Sonatrach found to have accepted bribes from Italian company Eni. Eni's chief executive Paolo Scaroni is already under investigation in Italy over alleged bribes paid to win contracts in Algeria for Saipem SpA, a subsidiary of Eni. That inquiry is into suspected bribes given to Sonatrach, where several top executives including the president were forced to resign two years ago due to the scandal.

Prosecutors probe Eni CEO contact with Algeria bribe "fixer"

By Stephen Jewkes and Manuela D'Alessandro MILAN, Feb 8 (Reuters) - A warrant to search the premises of Eni chief executive Paolo Scaroni was based on a meeting he had with the man alleged to have distributed bribes to win Algerian gas contracts for group company Saipem . State-controlled Eni is the biggest listed Italian company and the leading foreign energy operator in Algeria, where Italy sources 30 percent of its gas, making the North African country vital to its energy security.

Italian energy chief investigated over Algeria bribes

Italian energy major Eni's CEO Paolo Scaroni has been placed under investigation over alleged bribes paid to win contracts in Algeria, the company said on Thursday, denying any involvement in the scandal. Financial police raided Scaroni's residence in Rome and Eni's headquarters near Milan in their inquiry, which revolves around Eni's oil services subsidiary Saipem and its work on Algerian energy infrastructure. "Eni and its CEO declare themselves totally unrelated to the object of investigation," the company said.

Italian energy chief investigated over Algeria bribes

Italian energy major Eni's CEO Paolo Scaroni has been placed under investigation over alleged bribes linked to work in Algeria, the company said on Thursday, denying any involvement in the scandal. Financial police raided Scaroni's home in Rome and Eni's headquarters near Milan as part of their investigation, which revolves around contracts won by Eni's oil services subsidiary Saipem. "Eni and its CEO declare themselves totally unrelated to the object of investigation," the company said in a statement.

Italian energy chief probed over Algeria bribes: reports

The chief executive of Italian energy major ENI, Paolo Scaroni, is under investigation over alleged bribes linked to work in Algeria, ANSA news agency and Dow Jones Newswires reported on Thursday. Financial police raided Scaroni's home in Rome and ENI's headquarters near Milan as part of their investigation, which revolves around ENI's oil services subsidiary Saipem, the reports said. Contacted by AFP, ENI declined to comment. ENI shares plunged on the Milan stock exchange following the reports, closing the session with a 4.62 percent plunge to 17.33 euros.

URGENT ¥¥¥ Italian energy chief investigated over Algeria bribes: reports

The chief executive of Italian energy major ENI, Paolo Scaroni, is under investigation over alleged bribes linked to work in Algeria, ANSA news agency and Dow Jones Newswires reported on Thursday. Financial police raided Scaroni's home in Rome and ENI's headquarters near Milan as part of their investigation, which revolves around ENI's oil services subsidiary Saipem, the reports said. Contacted by AFP, ENI declined to comment. ahe/dt/arp
Syndicate content