Italy's Eni will press on with an agreement to sell half of its stake in the Libyan oil field Elephant to Gazprom, Eni said in a statement Friday.
Eni, the biggest foreign oil producer in Libya, has a 33.3 percent stake in the Elephant field, 800 kilometers from Tripoli. Eni valued the stake at $170 million.
In February, Eni said Gazprom would take 50 percent of its Elephant stake, pending approval by Libyan authorities. Analysts are concerned Eni could lose assets or opportunities in the long run if Rome's hesitant support for the rebel government early in the conflict triggers a backlash.
(Reuters)
A Message from The Moscow Times:
Dear readers,
We are facing unprecedented challenges. Russia's Prosecutor General's Office has designated The Moscow Times as an "undesirable" organization, criminalizing our work and putting our staff at risk of prosecution. This follows our earlier unjust labeling as a "foreign agent."
These actions are direct attempts to silence independent journalism in Russia. The authorities claim our work "discredits the decisions of the Russian leadership." We see things differently: we strive to provide accurate, unbiased reporting on Russia.
We, the journalists of The Moscow Times, refuse to be silenced. But to continue our work, we need your help.
Your support, no matter how small, makes a world of difference. If you can, please support us monthly starting from just $2. It's quick to set up, and every contribution makes a significant impact.
By supporting The Moscow Times, you're defending open, independent journalism in the face of repression. Thank you for standing with us.
Remind me later.