ENI CEO SENTENCE
CNBC. An Italian court has sentenced the chief executive of Italian oil and gas group Eni to a prison sentence and a ban from holding public office for violating environmental norms, a court document showed on Monday.
A ruling by a court in the north-eastern town of Rovigo said Eni CEO Paolo Scaroni had been sentenced to three years in prison and was banned from holding public office for five years.
Scaroni told CNBC he was shocked by the decision, which he said referred back to events that took place between 2002 and 2005.
"I am in no way involved in this matter and will appeal immediately," he told CNBC in an statement emailed by an Eni spokesperson.
"I am surprised by this decision – as the defense has shown, the Enel Porto Tolle plant has always operated within legal standards," Scaroni added.
The Italian court said in the document seen by Reuters that the CEO of utility Enel, Fulvio Conti, had been acquitted in the case.
Scaroni's lawyer, Alberto Moro Visconti, confirmed his decision to appeal.
"The charges have no grounds. In addition, they date so far back that, had they occurred, they would have already been time-barred. The decision is inexplicable," he told CNBC in a statement emailed by Eni.
|August, 17, 12:01:00|
|August, 17, 11:55:00|
|August, 17, 11:50:00|
|August, 17, 11:45:00|
|August, 17, 11:40:00|
|August, 17, 11:35:00|
U.S. FRB - Industrial production edged up 0.1 percent in July after rising at an average pace of 0.5 percent over the previous five months. Manufacturing production increased 0.3 percent, the output of utilities moved down 0.5 percent, and, after posting five consecutive months of growth, the index for mining declined 0.3 percent. At 108.0 percent of its 2012 average, total industrial production was 4.2 percent higher in July than it was a year earlier. Capacity utilization for the industrial sector was unchanged in July at 78.1 percent, a rate that is 1.7 percentage points below its long-run (1972–2017) average.
NPD - Preliminary production figures for July 2018 show an average daily production of 1 911 000 barrels of oil, NGL and condensate, which is an increase of 64 000 barrels per day compared to June.
GAZPROM NEFT - For the first six months of 2018 Gazprom Neft achieved revenue** growth of 24.4% year-on-year, at one trillion, 137.7 billion rubles (RUB1,137,700,000,000). The Company achieved a 49.8% year-on-year increase in adjusted EBITDA, to RUB368.2 billion. This performance reflected positive market conditions for oil and oil products, production growth at the Company’s new projects, and effective management initiatives. Net profit attributable to Gazprom Neft PJSC shareholders grew 49.6% year on year, to RUB166.4 billion. Growth in the Company’s operating cash flow, as well as the completion of key infrastructure investments at new upstream projects, delivered positive free cash flow of RUB47.5 billion for 1H 2018.
REUTERS - Front-month Brent crude oil futures LCOc1 were at $72.34 per barrel at 0648 GMT, down by 12 cents, or 0.2 percent, from their last close. U.S. West Texas Intermediate (WTI) crude futures CLc1 were down 23 cents, or 0.3 percent, at $66.81 per barrel.