The Italian government is leaning toward reappointing Claudio Descalzi as CEO of...
The 5-Star Movement is not opposing Descalzi’s reappointment as long as he is prepared to work with a new board to accelerate moves to cut carbon emissions, a prominent member of the movement said.The nomination process at Italy’s state-controlled companies is traditionally the subject of intense political horse trading because of their size and importance. Talks usually go down to the wire and can change unexpectedly on political vagaries.
Helped by major discoveries in Egypt and Mozambique, Descalzi transformed the company into one of the industry’s most successful oil and gas explorers. He has shunned costly bets on North American shale gas and more recently won accolades from investors by signing a flurry of deals in the Gulf.In one of the oil industry’s biggest ever scandals, Italian prosecutors allege Eni and Royal Dutch Shell bought a Nigerian oilfield in 2011 knowing most of the $1.
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