Barrel to $ 200... Bullshit!

In Davos, Eni‬ says that a barrel will reach $ 200 in 4-5 years...

Bullshit! The global economy could not bear the price per barrel to $ 200.


Note: See NEWS in BBC

And now Scaroni?

The Public Prosecutor of Italy concluded the investigation into the former CEO of Eni, Paolo Scaroni and other executives of Eni - Saipem in "Algeria Case". 

The crimes are "international corruption" and "tax fraud". The prosecution of Italy will send the inquiry the Court to decide on the criminal action.

And now Scaroni? The current CEO of Eni comes next!

As a result of misconduct, the bad character of these executives, the company will be penalized according to Legislative Decree nº 231/2001 (Modell 231 included in the Code of Ethics of Eni).

Eni will crumble! #Ethicsgate #Eni

Note: See NEWS of the Italian newspaper (for now only in Italian language)

With Mattei was very different...

With Enrico Mattei, the Eni company was very different honesty, fair and ethical! #ethicsgate #eni

Note: A tribute to Francesco Rosi.

Eni is in the list... Of course!

The FCPA Blog discloses "The Corporate Investigations List" by U.S. Securities and Exchange Commission (SEC).

And the italian energy giant Eni is in the list... Of course!

For Sale

To honor commitments Eni makes money by selling assets.

See more at this link.

To pay shareholders, Eni sells assets!

Low oil prices have halted Eni’s plans to fund exploration activities and dividend payments with a major assets sale.

Italy’s Eni has already sold about $6.22 billion worth of assets, primarily from its refining operations.

The company still needs to raise $7.4 billion to fund an exploration program set to run through 2017.

Eni was looking to sell minority stakes in its Mozambique gas field along with a 43 percent stake in services player Saipem and interests in non-core assets.

Selling stakes in its Africa and Asia fields could free up cash and offset delays and spiking costs at the company’s offshore Norway and Caspian sea projects, Reuters said.

Weak oil prices have made it difficult for the company to find buyers willing to pay top dollar for the assets.

With global demand for LNG slowing potential buyers are also becoming more cautious about their investments.

Eni sold a 20 percent stake in its Mozambique gas field last year to China’s CNPC for about $4 billion and is now looking to unload a 10 to 15 percent stake.

The company has reportedly been in talks to sell the stake to the China Huadian Group for about a year.

The discussions have not yet yielded a sale agreement.

Eni said that for every $1 drop in the price of Brent it losses about $124 million.

Petro Global News

Eni will crumble! #Ethicsgate #Eni   -   The fall of Babylon (Is 47)

It's true!

It's true! Website of Eni is very very good! Access the Webranking Italy 2014 by Lundquist.

But, their business practices... Visit the news of this website!

What? Transparency?

This Transparency International report, Transparency in Corporate Reporting: Assessing the World’s Largest Companies, evaluates the transparency of corporate reporting by the world’s 124 largest publicly listed companies. The report assesses the disclosure practices of companies with respect to their anti-corruption programmes, company holdings and the disclosure of key financial information on a country-by-country basis. It follows on from a 2012 report which focused on the world’s 105 largest publicly traded companies. The report is part of a series of studies based on a similar methodology aimed at assessing the transparency practices of companies, the most recent being a 2013 report on leading emerging market companies.

Global companies have legal and ethical obligations to conduct their business honestly. This requires commitment, resources and the ongoing management of a range of risks – legal, political and reputational – including those associated with corruption. The implementation of a comprehensive range of anticorruption policies and management systems is fundamental to efforts to prevent and remediate corruption within organisations.

Eni is investigated for corruption in various countries including Italy! The former CEO, Paulo Scaroni, and current CEO, Claudio Descalzi, are investigated by "international corruption".

So, how Eni is the first in this ranking?

Internal Fraud... One more time!

Another internal fraud involving Eni employees. Tax evasion happened from Toscana but there are also concerns in Liguria, Lombardia, Sardegna e Lazio.

Access the news in full (only in Italian).

‪#‎ethicsgate‬ ‪#‎eni‬

The fall of Eni SpA

Eni's stock will plummet! Unethical actions destroy a company! #Ethicsgate #Eni

Eni will crumble! The fall of Babylon (Is 47)