Eni looks to sell stake in Saipem

Eni looks to sell stake in Saipem

Italian oil and gas giant Eni is likely to sell its stake in offshore contractor Saipem, according to ceo Claudio Descalzi.

At Eni’s investor day held in Milan, Descalzi was asked if the company plans to further dilute its stake in Saipem, and said: “Most likely yes, but now is not the time, either from a market perspective or with respect to our strategy”.

Descalzi also said the company has no plans to sell its chemical unit Versalis.

Eni recently revealed it 2017-2020 strategic plan which will see it focus even more on upstream as well as restructuring in other business area such as gas, chemical, and refining which are back in positive territory.

Nicola Capuzzo

Nicola is a highly qualified journalist focused on transport economics, logistics and shipping with broad experience in both online and printed media. Specialties: shipping, ship finance, banking, commodities and port economics. He regularly interviews Europe's top shipowner executives for Maritime CEO magazine.

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1 Comment

  1. ruggero cova
    March 17, 2017 at 1:58 pm

    After having spolied Saipem so far, now they leave the emptied body on the ground…