Reuters • yesterday 'What the internet did for communications, blockchain will do for trusted transactions, and the energy and utilities industry is no exception,' said Stephen Callahan, Vice President, Energy, Environment & Utilities, Global Strategy, at IBM. The trend illustrates how blockchain is swiftly moving beyond financial services and cryptocurrencies, and offers a glimpse of a growing challenge to the $2 trillion energy market. Blockchain is a database of transactions distributed among multiple computers. Reuters • 2 days ago Efforts to find new oil off Norway are expected to double next year, preliminary company plans show, with activity rising in more mature areas after this year's disappointing Arctic campaign.
The pressure to deliver is growing as this year's poor exploration results were partly to blame for a drop in interest in Norway's latest licensing round. Around 45-50 exploration wells, including wells to delineate previously made discoveries, could be drilled next year on the Norwegian Continental Shelf (NCS), up from around 26 wells this year. Reuters • 3 days ago Royal Dutch Shell (RDSa.L) and Eni (ENI.MI) have been ordered to stand trial over alleged corruption in Nigeria with the Italian major's chief executive among those indicted. A Milan judge ruled on Wednesday the two companies along with a series of present and past executives would have to face a trial which legal sources said is due to start on March 5. The case involves the 2011 purchase by Eni and Shell of Nigeria's OPL-245 offshore oilfield - one of Africa's most valuable oil blocks - for about $1.3 billion (£969.73 million). Reuters • 11 days ago Britain's biggest pipeline from its North Sea oil and gas fields is likely to be shut for several weeks for repairs, its operator said on Tuesday, disrupting gas flows and sending international crude prices to their highest since mid-2015. 'We are working to get the pipeline restored to full operation as quickly as we can safely do so.
We have previously indicated a time frame of three to four weeks and we believe it is no less than two,' operator INEOS said in a email to customers seen by Reuters. It has particular significance to global markets because Forties is the largest out of the five crude oil streams that underpin the dated Brent benchmark, against which other crude prices are broadly based. Piazzale Enrico Mattei 1 Rome, RM 00144 Italy Sector: Basic Materials Industry: Major Integrated Oil & Gas Full Time Employees: 33,536 Eni S.p.A. Engages in the oil and gas, electricity generation and sale, and petrochemicals businesses.
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The company is involved in the oil and natural gas exploration, and field development and production activities, as well as liquefied natural gas (LNG) operations in 44 countries, including Italy, Libya, Egypt, Norway, the United Kingdom, Angola, Congo, Nigeria, the United States, Kazakhstan, Algeria, Australia, Venezuela, Iraq, Ghana, and Mozambique. It also supplies, trades, and markets gas and electricity; transports international gas; supplies crude oil; and refines and markets petroleum products at retail and wholesale markets primarily in Italy and rest of Europe.
In addition, the company engages in the generation of electricity; commodity risk management and asset-backed trading activities; and production of various chemicals, including olefins and aromatics, basic intermediate products, polystyrenes, elastomers, and polyethylene in Italy and Western Europe. Further, it is involved in commodity trading and derivatives. Was founded in 1953 and is headquartered in Rome, Italy.
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