Eni S.p.A. (E - Free Report) has entered into a memorandum of understanding (MoU) with Sonatrach, a national state-owned oil company of Algeria.
Thus, the partnership between the companies has been strengthened, which will thereby boost oil and gas exploration and production activities in the prolific Berkine basin.
In order to boost investments in upstream operations, Algeria came out with a new energy law in 2019, following output and export declines. Under this new legal platform, the MoU will outline a roadmap to be followed for concluding several contracts.
Since 1981, Eni has been conducting operations in Algeria and hence, is a leading foreign upstream energy player in the country. Investors should also know that Algeria, a North African country, supplies significant gas volumes to Europe and is a member of the Organization of the Petroleum Exporting Countries.
Headquartered in Rome, Italy, Eni currently carries a Zacks Rank #4 (Sell). Some better-ranked players in the energy space include Summit Midstream Partners, LP (SMLP - Free Report) , DCP Midstream, LP and HighPoint Resources Corporation , each sporting a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Summit Midstream has seen upward earnings estimate revisions for 2020 in the past seven days.
DCP Midstream has seen upward estimate revisions for 2020 earnings in the past 30 days.
HighPoint is likely to see earnings growth of 167.5% in 2020.
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Zacks Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
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Eni S.p.A. (E - Free Report) has entered into a memorandum of understanding (MoU) with Sonatrach, a national state-owned oil company of Algeria.
Thus, the partnership between the companies has been strengthened, which will thereby boost oil and gas exploration and production activities in the prolific Berkine basin.
In order to boost investments in upstream operations, Algeria came out with a new energy law in 2019, following output and export declines. Under this new legal platform, the MoU will outline a roadmap to be followed for concluding several contracts.
Since 1981, Eni has been conducting operations in Algeria and hence, is a leading foreign upstream energy player in the country. Investors should also know that Algeria, a North African country, supplies significant gas volumes to Europe and is a member of the Organization of the Petroleum Exporting Countries.
Headquartered in Rome, Italy, Eni currently carries a Zacks Rank #4 (Sell). Some better-ranked players in the energy space include Summit Midstream Partners, LP (SMLP - Free Report) , DCP Midstream, LP and HighPoint Resources Corporation , each sporting a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Summit Midstream has seen upward earnings estimate revisions for 2020 in the past seven days.
DCP Midstream has seen upward estimate revisions for 2020 earnings in the past 30 days.
HighPoint is likely to see earnings growth of 167.5% in 2020.
Looking for Stocks with Skyrocketing Upside?
Zacks has just released a Special Report on the booming investment opportunities of legal marijuana.
Ignited by referendums and legislation, this industry is expected to blast from an already robust $17.7 billion in 2019 to a staggering $73.6 billion by 2027. Early investors stand to make a killing, but you have to be ready to act and know just where to look.
See the pot stocks we're targeting >>
Zacks Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
Free: See Our Top Stock and 4 Runners Up >>
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