Centrica,  owner of Bord Gáis Energy and British Gas, fell 1.6 per cent in brisk volume after it cut its full-year earnings outlook on the back of a steep drop in energy demand. Photograph: Nick Ansell/PA Wire

Mining stocks led a fall across Europe after manufacturing data missed economists’ estimates for the region and China. A purchasing managers index for(...)

Helge Lund, chief executive officer of Statoil. Photograph: Andrey Rudakov/Bloomberg

Statoil, Norway’s largest t energy company, again delayed a development decision for the Johan Castberg project in the Arctic Barents Sea as it consi(...)

Hassan Rouhani, Iran’s president,  leaves a session on the opening day of the World Economic Forum  in Davos, Switzerland, today.  Photograph: Jason Alden/Bloomberg

Iranian president Hassan Rouhani said today it was possible to turn more than three decades of enmity with the US into friendship if both sides made a(...)

The state Treasury holds 4.34 per cent of Eni and state lender Cassa Depositi e Prestiti holds another 25.76 per cent, bringing the state’s total holding to 30.1 per cent. Photograph: Anatoliy Ustinenko

Italian oil major Eni will start a planned share buyback programme worth up to €6 billion ($8 billion) on Monday, the company said.The programme cover(...)

Italian prime minister Enrico Letta:  says that half of the amount raised from the state sales will  be used to reduce Italy’s debt in 2014,

Italy will sell stakes in public entities including oil and gas company Eni to raise up to €12 billion next year and help cut public debt, prime minis(...)

 Volkswagen gained 5 per cent to €183.50 after posting quarterly earnings before interest and taxes that jumped 20 per cent to €2.78 billion, exceeding average analyst estimates. Photograph:  Matthias Rietschel

European stocks were little changed at a one-week high, while the FTSE 100 index of London-listed blue chips nudged up to a five-month high, as invest(...)

 “Unlike Norway, we can’t afford to underwrite exploration. However, the Government is jointly funding a €15 million survey with Italian oil giant Eni of the Republic’s undersea geology.”

ExxonMobil’s announcement last week that it plans to abandon its search for oil and gas off the west coast looked like a blow to hopes for a fresh wav(...)

An Exxon spokesman  confirmed “there are no plans at present for further drilling in Irish waters”. Photograph: Reuters

ExxonMobil has no plans for further drilling in Irish waters after abandoning a well off the southwest coast where it failed to find commercial quanti(...)

Statoil:  says new tax increases announced in Norway  last month had lessened the attractiveness of some projects

Another Arctic oil project has been postponed with Statoil delaying the development of its Johan Castberg field in the Barents Sea. The oil major, maj(...)

Despite record youth unemployment levels throughout much of the continent, several major firms operating in Europe still claim they are facing a massi(...)