The Board of Directors of Eni(Nigeria Agip Exploration Limited) yesterday said the transactions which resulted in the auctioning of $1,616,690,656.78 Malabu oil block were not fraudulent. The oil firm said it based its position on the outcome of forensic investigations into the block. It disclosed that...

A Memorandum of Understanding between Italian oil giant ENI and Nigerian National Petroleum Corporation was signed in Rome with ENI committing to the refurbishment of the Port Harcourt Refinery. The company also agreed to build Phase 2 of Okpai Power Plant and to further invest...

Italian oil and gas giant, Eni,  has concluded plans to invest about 20 billion euros ($22.52 billion) in Africa over the next fours, mostly in oil and gas, the company's Chief Executive Officer, Claudio Descalzi, said on Friday. "In the next four years we are...