Eni SpA E CEO, Claudio Descalzi, and the minister of Defence, Guido Crosetto, officially signed a Memorandum of Understanding (MoU) in Rome, aimed at enhancing Italy's security and boosting national defense capabilities.
The agreement signifies an intensified strategic collaboration between the Ministry of Defence and Eni to gather the expertise and information crucial for security and risk assessment in areas of common geopolitical interest.
The MoU specifically addresses scenarios related to safeguarding critical infrastructure and areas of strategic importance aligned with national interests. It outlines joint initiatives to support local communities and highlights the promotion of innovation, with a focus on emerging technologies.
Additionally, the agreement highlights organizational, educational and training aspects that will contribute to the development of a robust and resilient security framework.
Crosetto expressed his enthusiasm about the signed agreement, stating that the MoU marks a significant step and strengthens the synergy between the Ministry of Defence and Eni. The partnership represents a shared commitment to national defense and the well-being of local communities.
Descalzi emphasized the importance of the partnership, stating that the agreement strengthens the cooperation already in place and confirms the importance of public-private partnerships as an effective risk management tool to protect strategic activities and national economic and industrial initiatives.
Zacks Rank & Key Picks
E currently has a Zack Rank #3 (Hold).
Some better-ranked stocks in the energy sector are Matador Resources Company MTDR, Liberty Energy Inc. LBRT and Viper Energy, Inc. VNOM. While Matador Resources sports a Zacks Rank #1 (Strong Buy), both Liberty Energy and Viper Energy carry a Zacks Rank #2 (Buy) at present. You can see the complete list of today’s Zacks #1 Rank stocks here.
Matador Resources is among the leading oil and gas explorers in the shale and unconventional resources in the United States. The company’s prime intention is to create more value for shareholders and generate lucrative returns from the capital invested in unconventional plays.
MTDR’s earnings beat estimates in each of the trailing four quarters, delivering an average surprise of 13.89%.
Liberty Energy is a North American provider of hydraulic fracturing services to upstream energy operators. The company’s multi-basin presence offers an attractive upside opportunity compared with most of its peers. Its strong relationship with high-quality customers provides revenue visibility and business certainty.
LBRT’s earnings beat estimates in three of the trailing four quarters and missed once, delivering an average surprise of 9.88%.
Viper Energy is a variable distribution MLP based in Midland, TX. It generates strong and steady royalty income from mineral interests in Eagle Ford and Permian Basin. The business strategies of the partnership include acquiring mineral interests from third parties and the parent company.
VNOM’s earnings beat estimates in each of the trailing four quarters, delivering an average surprise of 92.62%.
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