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Saipem SpA (SPMI.MI)

SPMI.MI on Milan Stock Exchange

21 Jun 2017
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Latest Key Developments (Source: Significant Developments)

Saipem signs with Eni off-shore drilling contracts worth $230 million
Thursday, 1 Jun 2017 12:15pm EDT 

June 1 (Reuters) - Italian oil contractor Saipem says::has signed with Eni contracts for off-shore drilling in Mozambique, Mediterranean Sea and Black Sea for total value of $230 million.Mozambique project will start mid-2019 and will last 15 months.off-shore in Mediterranean Sea will include activities in Portugal, postpones from last year, and in Cyprus, starting in the fourth quarter of this year .  Full Article

Saipem could consider "portfolio action" for onshore drilling unit - CEO
Friday, 21 Apr 2017 04:32am EDT 

April 21 (Reuters) - Saipem CEO Stefano Cao says::could consider some portfolio action in onshore drilling business such as joining forces with others.  Full Article

Shares in Saipem volatile after results
Friday, 21 Apr 2017 02:51am EDT 

April 21 (Reuters) - Saipem::Shares in the Italian oil services group fall more than 1.5 percent after results but then pare the losses.Stock is up 0.2 percent by 0705 GMT.the group confirmed its guidance for the year on Friday after its operating profits in the first quarter fell 21 percent.nI6N1H802D.  Full Article

Italy state lender CDP's stake in Saipem is not for sale
Friday, 31 Mar 2017 09:59am EDT 

State lender Cassa Depositi e Prestiti Chairman Claudio Costamagna says: To book impairment on stake in oil service group Saipem . Impact will be offset by revaluation of other holdings . Stake is not for sale Further company coverage: [SPMI.MI] (Reporting by Milan newsroom).  Full Article

Eni CEO says will likely exit from Saipem, now not the right moment
Wednesday, 15 Mar 2017 07:33am EDT 

Eni Chief Executive Claudio Descalzi tells investors' presentation in Milan: The group will likely exit from oil contractor Saipem but now is not the moment . At the moment there is absolutely no idea of selling chemical unit Versalis Further company coverage: [ENI.MI] (Reporting by Milan newsroom).  Full Article

Saipem CFO says no asset sales being studied
Thursday, 23 Feb 2017 01:18pm EST 

Saipem CFO Giulio Bozzini says: no asset sales being studied at moment . sees no recovery yet in oil companies' investments . asking for 600-700 million euros in compensation in arbitration with Gazprom over South Stream project cancellation Further company coverage: [SPMI.MI] (Reporting by Milan newsroom).  Full Article

Saipem confirms 2017 guidance after 26 mln euro Q4 net profit
Thursday, 23 Feb 2017 11:47am EST 

Italian oil services group Saipem says: Adjusted Q4 net profit 26 million euros . Confirms 2017 adjusted EBITDA guidance of about 1 billion euros . Confirms 2017 net profit of more than 200 million euros .Sees net debt at around 1.4 billion euros end-2017.  Full Article

Saipem shares fall 5 pct after guidance cut
Thursday, 28 Jul 2016 02:00am EDT 

Saipem: Shares in the Italian oil contractor fall more than 5 percent after it lowered its guidance . Saipem cut its guidance for the year on Wednesday, saying clients hit by low oil prices were delaying the awarding of contracts.[nL8N1AD7MU] Further company coverage: [SPMI.MI] (Reporting by Milan newsroom).  Full Article

HISTEEL signs 14.07 bln won contract with SAIPEM
Monday, 27 Jun 2016 09:30pm EDT 

HISTEEL CO., LTD <071090.KS>: Says it signs AL ZOUR NEW REFINERY PROJECT PACKAGE 4 contract with SAIPEM .Says contract price of 14.07 billion won.  Full Article

S&P's cuts Saipem long-term rating to junk
Friday, 6 May 2016 02:08pm EDT 

Italy's Saipem says: Credit rating agency Standard & Poor's cut the oil service company's long-term rating to 'BB+' from 'BBB-' . Outlook on the new rating is negative . S&P's had said in February it was considering cutting Saipem's rating after parent company Eni sold part of its 43 percent stake to get 6.7 billion euros of Saipem's gross debt off its own balance sheet and sever its ties. Further company coverage: [SPMI.MI] (Reporting by Milan Newsroom).  Full Article

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Italy - Factors to watch on June 2

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