Eni and Neptune sign acquisition deal
The Italian firm continues to increase the share of gas in its growing portfolio
Eni has signed a deal to acquire most of UK independent oil and gas producer Neptune Energy, including what the Italian IOC terms “a world-class portfolio of gas-orientated assets”. Eni has agreed to purchase Neptune’s portfolio in North Africa, Indonesia, Australia and Western Europe, with the exception of its Norwegian and German operations. Var Energi—an Oslo-listed company of which Eni is the largest shareholder, with 63pc—signed a simultaneous agreement to buy Neptune’s Norwegian operations, while the German business will be spun off into a separate entity, owned and operated by Neptune’s existing shareholders. Neptune is owned by sovereign wealth fund China Investment Corporation (49pc
Also in this section
27 February 2026
LNG would serve as a backup supply source as domestic gas declines and the country’s energy system comes under stress during periods of low hydropower output and high energy demand
27 February 2026
The assumption that oil markets will re-route and work around sanctions is being tested, and it is the physical infrastructure that is acting as the constraint
27 February 2026
The 25th WPC Energy Congress to take place in tandem as part of a coordinated week of high-level ministerial, institutional and industry engagements
27 February 2026
The deepwater sector must be brave by fast-tracking projects and making progress to seize huge offshore opportunities and not become bogged down by capacity constraints and consolidation
