Libya's Surprise Oil Minister Change Throws Spotlight on Output [BNN Bloomberg (Canada)]
ENI S.p.A. (E)
US:NYSE Investor Relations:
eni.com/en_it/investors.page
Company Research
Source: BNN Bloomberg
fragmented political picture still leaves numerous hurdles for international firms to negotiate. Oil Minister Mohamed Oun was suspended this week as a government agency investigates alleged violations including “circumventing the law and wasting public money.” Within hours, a replacement was named from within the board of the state-run National Oil Corp., which has frequently been at loggerheads with the ministry on policy. Oun has denied any wrongdoing and said the probe should be expedited. Khalifa Abdul Sadiq's move to the hot seat likely aligns the NOC and the ministry, potentially laying the ground for a short-term revival of the sector that's key for Libya's economy and a crucial source of supply to global markets. Whether it will lead to sustained higher output remains uncertain as simmering feuds in the North African country that's divided between rival governments can quickly send the industry into turmoil. The minister's ousting removes one of the obstacles to recent h
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- Eni S.p.A. (NYSE: E) was downgraded by analysts at StockNews.com from a "buy" rating to a "hold" rating.MarketBeat
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- 4/12/24 - Form 6-K
- 4/5/24 - Form IRANNOTICE
- E's page on the SEC website