Word: enis
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...searching for oil or gas in the region, or risk drilling wells in volatile countries such as Uganda, Mozambique or Somalia. But better technology, lower risk in some of the countries and higher oil prices in recent years have changed the equation. Wildcatters and majors such as Italy's Eni, Petronas of Malaysia and China National Offshore Oil Corporation (CNOOC) have all moved on East Africa in the past few years...
...visa ban has certainly thrown investments in Libya's booming oil industry into question. When TIME visited Libya's major natural gas facility on Tuesday - it pipes gas to Italy under the Mediterranean - the company's Italian general manager, from the Italian energy company ENI, was not there. He was stuck in Europe, with no visa to return...
...government may have been right all along. After months of sticking to their demands, oil companies now are agreeing to Iraq's $2-a-barrel offer. In mid-November, Italian oil executives from ENI flew to Baghdad to sign a deal on Zubair, a southern Iraq field with about 4.1 billion barrels of reserves. ENI plans to pump about 1.1 million barrels a day from Zubair in partnership with California-based Occidental Petroleum and South Korea's Kogas. ENI was quickly followed by ExxonMobil and Royal Dutch Shell, which agreed to produce about 2.3 million barrels a day in another...
Major Western oil companies operating in Iran, including Total, Royal Dutch Shell and the Italian company ENI, have held off from signing new deals with Iranian oil officials for several months, perhaps waiting to see if President Obama's moves to open talks with Tehran will succeed in breaking the political impasse. The Chinese deal last month to develop the South Pars gas field came only after Total opted not to sign, fearing political fallout. Such fears have rarely fazed Beijing - and are unlikely...
...around Naples, the Mob is not just murderous, but also a major drag on Italy's economic development. A recent report by the Confesercenti small-business association estimated that organized crime accounts for 7% of Italy's GDP, a larger share than any corporate behemoth, even the energy giant ENI. The Sicilian Mob is one of Italy's original multinationals, having partnered with its Italo-American cousins and gangsters around the world to traffic drugs and weapons, launder money and promote other illegal cross-border business...