Italy Proposes Lorenzo Mariana as New CEO of Leonardo
Written by Emily J. Thompson, Senior Investment Analyst
Updated: 3 days ago
0mins
Should l Buy E?
Italy proposed appointing Lorenzo Mariana as the new chief executive of Leonardo (FINMY), replacing Roberto Cingolani, who failed to secure a second term despite overseeing a surge in orders and revenues, Reuters' Elvira Pollina, Angelo Amante and Giuseppe Fonte report, citing a Treasury statement. Rome also proposed reappointing Claudio Descalzi and Flavio Cattaneo as the heads of energy groups Eni (E) and Enel (ENLAY), respectively.
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Analyst Views on E
Wall Street analysts forecast E stock price to fall
3 Analyst Rating
1 Buy
2 Hold
0 Sell
Moderate Buy
Current: 56.430
Low
17.45
Averages
18.45
High
19.45
Current: 56.430
Low
17.45
Averages
18.45
High
19.45
About E
Eni SpA (Eni) is an Italy-based company engaged in the exploration, development and production of hydrocarbons, in the supply and marketing of gas, liquefied natural gas (LNG) and power, in the refining and marketing of petroleum products, in the production and marketing of basic petrochemicals, plastics and elastomers and in commodity trading. The Company's segments include Exploration & Production, Gas & Power, and Refining & Marketing. Its Exploration & Production segment engages in oil and natural gas exploration and field development and production, as well as LNG operations in over 40 countries, including Italy, Libya, Egypt, Norway, the United Kingdom, Angola, Congo, Nigeria, the United States, Kazakhstan, Algeria, Australia, Venezuela, Iraq, Ghana and Mozambique. Its Gas & Power segment engages in supply, trading and marketing of gas, LNG and electricity, international gas transport activities and commodity trading and derivatives.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
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- Executive Access Opportunities: This conference offers investors direct access to executive management teams from leading global energy companies, including one-on-one meetings and breakout Q&A sessions, helping investors gain deeper insights into companies' operational and financial strategies, thereby enhancing investment decision-making effectiveness.
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See More
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- Energy Company Stability: Despite the leadership change at Leonardo, the Italian government has opted to renew Eni CEO Claudio Descalzi and Enel CEO Flavio Cattaneo, ensuring management continuity in a complex geopolitical context.
- Market Reaction: Leonardo's shares fell over 5% following the CEO change announcement, indicating market sensitivity to leadership transitions and potential investor concerns regarding the company's future performance.
- Strategic Implications: Descalzi's renewal is viewed positively due to his achievements in strengthening the upstream business and advancing decarbonization, highlighting the Italian government's commitment to stability and long-term growth strategies in the energy sector.
See More
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- Strategic Partnerships Enhance Capability: The company has secured drilling capacity through strategic agreements and plans to acquire rights to approximately 70% of the Jameson Land Basin, covering around two million acres, significantly increasing its exposure to the resource base and providing crucial support for future development.
- Experienced Leadership Team: The appointment of Joe Moglia, with his background in financial markets and corporate governance, will provide valuable guidance for the company’s capital market engagement and regulatory oversight, ensuring effective advancement of exploration projects in a complex financial and regulatory environment.
See More
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- Significant Exploration Potential: Greenland Energy's primary asset in the Jameson Land Basin is estimated to contain up to 13 billion barrels of oil, which, if successfully developed, could significantly impact both regional and global energy markets, positioning it as a crucial future energy supply source.
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- Experienced Leadership Team: The appointment of Joe Moglia, with his background in capital markets and corporate governance, will provide valuable guidance for the company in navigating exploration and capital strategy, ensuring effective execution of its long-term development strategy in a complex financial and regulatory environment.
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- Equity and Board Seat: Through this deal, Eni is expected to hold approximately 11.5% of NMG and secure a board seat, which not only enhances its influence in company decisions but also lays the groundwork for negotiating exclusive supply agreements.
- Supply Chain Integration: This investment will provide Eni access to natural graphite, a critical input for lithium-ion batteries, thereby strengthening its position within the critical minerals value chain and supporting growth in electric mobility and energy storage sectors.
- Project Funding Support: The proceeds will fund the development of the Matawinie graphite mine and support operations at the Bécancour battery materials plant in Quebec, which is expected to enhance overall supply chain efficiency and sustainability.
See More
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- New Oil Well in Murzuq Basin: In partnership with Spain's Repsol, NOC reported a new oil discovery in the Murzuq Basin, approximately 800 km south of Tripoli, with a well depth of 4,325 feet producing an average of 763 bbl/day, further solidifying Libya's position in the global oil market.
- Wafa Oil and Gas Exploration: Collaborating with Algeria's Sonatrach, a new well drilled near the Wafa field in the Ghadames Basin reached 8,440 feet, flowing at 13M cf/day of gas and 327 bbl/day of condensates, showcasing the diverse resource potential of the region.
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See More
