Eni S.p.A. (MIL:ENI) is expanding upstream and trading reach: it struck Argentine deals for Vaca Muerta-linked stakes (pending approvals), holds Cyprus Cronos gas prospects eyed for Egyptian tie‑ins, and formed a 50:50 JV with Mercuria to boost trading, cash flow and asset use.
Previous Week Recap
- Eni, Abu Dhabi XRG Stakes, LNG Venture: Eni (ENI) agreed to buy 32% stakes with Abu Dhabi’s XRG in three Argentine upstream blocks while taking 32% of UPCO ARLNG I for a Vaca Muerta-linked LNG project; deals need regulatory approval
- Eni, Mercuria Form 50/50 JV: Eni S.p.A. (ENI) and Mercuria form a 50:50 Geneva-based JV to trade crude, fuels, gas, LNG, LPG and biofuels, aiming to expand Eni’s trading, boost cash flow and asset use.
- Cronos Gas Find Licenses License: ENI holds a license for the Cronos gas find off Cyprus alongside Total; Cronos and nearby discoveries are being evaluated for tie‑ins to Egyptian gas and LNG infrastructure pending further appraisal.
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