Emmanuel OchayiClaudio Descalzi, the CEO of Eni, emphasized Italy’s intent to invest in Africa in energy and migration management.
Speaking during a political event in Rome. Descalzi underlined Italy’s need to steer energy flow from south to north, stating, “Italy is ready to invest in Africa, this is also a necessity because energy is now flowing from south to north and we need to be the ones guiding this flow for our sake and Africa’s sake.”
Join our WhatsApp ChannelEni, Italy’s leading natural gas importer, has faced reduced Russian supplies since 2022. To counter this, the company has increased gas transportation from Africa, leveraging its long-established presence on the continent-spanning several decades.
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Descalzi emphasized the potential mutual benefits for Italy and Africa, drawing parallels with China’s significant involvement in Africa over the past three decades, primarily focusing on energy and critical resources.
In a Nigerian context, Eni’s proposed deal with Oando PLC for the sale of Nigerian Agip Oil Company Ltd (NAOC Ltd) aims to enhance its strategic position. However, Eni clarified that it remains committed to Nigeria, retaining its 5% stake in the SPDC JV operated by Shell and continuing offshore activities independently.
This strategic transaction aligns with Eni’s 2023-2026 plan, aiming for organic growth through strategic acquisitions while divesting resources that might offer more substantial opportunities to new owners. The deal’s completion hinges on obtaining approval from relevant local and regulatory authorities.
Emmanuel Ochayi is a journalist. He is a graduate of the University of Lagos, School of first choice and the nations pride. Emmanuel is keen on exploring writing angles in different areas, including Business, climate change, politics, Education, and others.
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