LNG

Italian energy company Eni has explained the strategy behind its agreed acquisition for $4.9 billion of UK-based Neptune Energy, which is controlled by equity funds and owns key global LNG stakes and gas field assets in Algeria, Indonesia, Norway, the UK, the Netherlands and Australia.

UK major BP has reported its highest profit in eight years in the fourth-quarter earnings statement amid volatile forward natural gas prices during 2021 and said it was “performing while transforming” and investing in only “focused” hydrocarbon ventures like a field recently brought on stream in Angola.