Tuesday, March 08, 2011

Can Eni SpA Grow Production Without Libya?

Libya is Eni SpA’s (E-$49.22) largest source of oil and gas, accounting for approximately 244,000 barrels of oil equivalent a day. With Qaddafi loyalists battling anti-government forces town-to-town, most of Libya’s aggregate production of 1.6 million barrels a day has been shut-in, according to Bloomberg and other news sources. Estimates are that about 50 percent of Eni’s Libyan production has been curtailed, too.

From Ecuador and Ghana, to China and Indonesia — the Italian energy conglomerate has its fingerprints on a balanced mix of potentially lucrative discoveries across the globe. By leveraging organic growth in the Americas, Western Africa and Central Asia, Eni expects to deliver more than 2.5 percent compounded average growth in production through 2014 — under a Brent scenario at $70 per barrel.

Continue Reading at CBS Interactive….

Editor David J Phillips does not hold a financial interest in any stocks mentioned in this article. The 10Q Detective has a Full Disclosure Policy.

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