Bloomberg Anywhere Remote Login Bloomberg Terminal Demo Request


Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.


Financial Products

Enterprise Products


Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000


Industry Products

Media Services

Follow Us

Bloomberg Customers

Eni Confirms CEO Scaroni Probed in Algeria Corruption Case

Eni SpA Chief Executive Officer Paolo Scaroni is being investigated for alleged corruption in an Italian probe of contracts obtained by its oil services company, Saipem SpA, in Algeria.

“Eni acknowledges that the prosecutor has decided to extend the investigation to include Eni and its chief executive officer,” the Rome-based company said in a stock-exchange statement. Newspaper la Repubblica earlier reported on its website today that Scaroni was part of the probe.

“Eni and its CEO declare themselves totally unrelated to the object of the investigation,” the company said.

Scaroni’s home and office were searched as part of the probe, which focuses on 11 billion euros ($14.7 billion) of Saipem contracts and 197 million euros in alleged bribes, la Repubblica said. Eni is the largest investor in Saipem, Europe’s biggest oil-service provider by market value.

Eni said that it will fully cooperate with the prosecutor’s office in Milan.

Pietro Franco Tali resigned as Saipem’s CEO in December amid the investigation. Saipem in December also suspended the chief operating officer of its engineering and construction unit, Pietro Varone, who also is under investigation in the probe, and another unidentified manager, the Milan-based company said in December.

“Saipem believes that its business activities have been conducted in compliance with applicable law,” it said Dec. 5.

Scaroni, 66, was appointed Eni CEO in June of 2005.

Eni shares fell 4.6 percent to 17.33 euros, its lowest since Nov. 16.

Please upgrade your Browser

Your browser is out-of-date. Please download one of these excellent browsers:

Chrome, Firefox, Safari, Opera or Internet Explorer.