The rise in crude oil prices is boosting the oil sector, with Eni shares rising in Milan
Major European stocks are also on the rise. Saipem is trading weakly on the FTSE MIB, but Banca Akros advises investors to accumulate the shares
Eleonora Micheli
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(Il Sole 24 Ore Radiocor) - The surge in crude oil prices is boosting oil stocks: on the Milan Stock Exchange, Eni is gaining ground on the Milan Stock Exchange, and the Spanish firm Repsol and the French firm TotalEnergies are also performing well, as are the British firms BP and Shell. In the sector, however, Tenaris and Saipem are down in Milan. The latter had performed well the previous day, rising by 0.7 per cent, following the announcement that it had been awarded a new contract in Turkey for the commissioning of the Osman Gazi Floating Production Unit, intended for the development of the Sakarya natural gas field in the Black Sea.
The contract award, as the company itself explained, follows on from the contract for Operation Readiness & Assurance support services awarded to Saipem in April 2026 and reinforces the group’s involvement in one of the most important energy projects currently underway in Turkey. Banca Akros recommends accumulating Saipem shares, for which it sets a target price of 4.4 euros. “Although the new contract is small, it strengthens Saipem’s presence in the Turkish market,” commented the brokerage firm’s analysts.
