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Eni Announces Temporary Shut Down Val d’Agri Oil Centre


Eni SpA E recently announced its plans to temporarily shut down the Val d’Agri Oil Centre. In fact, the company has already begun the procedures for plant closure.

The decision to shut down the facility was based on the positions stated by the territory, the President of the Region and the Regional Council.

With reference to the press release issued on Apr 15, by the Basilicata region, Eni confirmed that it has satisfied all the requirements stated by the authorities. The officials were also continuously updated about the intervention activities and ongoing environmental monitoring.

During the closure process, Eni will forge ahead with the essential controls to reassure its stakeholders on the precision and efficiency of its work, the reliability of the system and the presence of all safety conditions to execute operating activities.

Eni, along with its consolidated subsidiaries, is engaged in oil and gas, electricity generation, petrochemicals, oilfield services and engineering industries. The company’s major business segments are Exploration and Production (E&P), Gas and Power, and Refining and Marketing. Eni conducts its major exploration and production activities for hydrocarbons. It operates these activities out of Italy, Croatia, North Africa, West Africa, the North Sea, the Gulf of Mexico, the Middle and Far East, the Caspian Sea, Australia and Latin America.

Investor confidence on the Eni stock is reflected in its price chart. Shares of the company appreciated 5.1% in the last six months, while the Zacks categorized Oil & Gas – International Integrated industry gained 0.8% in the same time span.

Currently, Eni carries a Zacks Rank #2 (Buy). Some better-ranked from the same space are Diamond Offshore Drilling Inc. DO, Cenovus Energy Inc. CVE and Bellatrix Exploration Ltd. BXE. Both these stocks sport a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.

Diamond Offshore Drilling posted a positive earnings surprise of 341.67% in the preceding quarter. It beat estimates in all of the four trailing quarters with an average positive earnings surprise of 353.28%.

Cenovus Energy posted a positive earnings surprise of 583.33% in the preceding quarter. It beat estimates in two of the four trailing quarters with an average positive earnings surprise of 74.89%.

Bellatrix Exploration posted a positive earnings surprise of 240.00% in the preceding quarter. It beat estimates in three of the four trailing quarters with an average positive earnings surprise of 58.54%.

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