CANADA STOCKS-TSX rises with energy stocks
TORONTO, Dec 5 Canada's main stock index rose in early trade on Monday, boosted by energy stocks as oil prices kept pushing higher after OPEC members agreed to cut production last week.
NICOSIA, July 11 Italian energy company ENI will start exploratory drilling for natural gas off Cyprus in the second half of 2014, its chief executive said on Thursday.
ENI signed an exploration and production-sharing contract with the Cypriot government in early 2013 to search for hydrocarbons in three offshore areas.
Paolo Scaroni, ENI's chief executive officer, said the company would launch an exploratory drilling in one offshore block next year.
"We are focussed on gas, and we believe it is gas, but it might very well be oil as well," Scaroni told reporters after meeting senior Cypriot government officials and the president.
There have been huge natural gas finds in the eastern Mediterranean in recent years. Cyprus, which required an international financial bailout earlier this year, is keen to get revenue from gas flowing as soon as possible.
U.S. based Noble Energy is conducting an appraisal drill off the island to verify 2011 finds of a reservoir containing 5 to 8 trillion cubic feet of gas.
Noble's concession areas lies just south of the area that ENI plans to explore next year.
France's Total has also signed a production-sharing contract for offshore exploration with the Cypriot government.
The U.S. Geological Survey has estimated that the Levant Basin, which lies largely in Cypriot and Israeli waters, holds around 3.5 trillion cubic metres of recoverable gas.
* Dan Arnold, LPL president, named President and CEO Source text for Eikon: Further company coverage:
LONDON, Dec 5 GlaxoSmithKline said on Monday that Dominique Limet would step down at the end of March 2017 as head of the drugmaker's majority-owned HIV business ViiV Healthcare, to be replaced by GSK insider Deborah Waterhouse.