TOKYO - Japan risks missing, yet again, an opportunity to use foreign investment to help fuel sustained economic growth that has eluded it for the last two decades.
FRANKFURT - New solar installations reached a fresh record of 7.5 gigawatts (GW) in Germany in 2011, playing into the hands of advocates for steeper cuts in tariff subsidies to reduce growth of solar power and the resulting higher costs for consumers.
ENI CEO says not interested in Conoco's Kashagan stake
MILAN (Reuters) - Italy's oil major ENI (ENI.MI) does not intend to exercise its right of first refusal on ConocoPhillips' (COP.N) stake in Kazakhstan's Kashagan oil field, Chief Executive Paolo Scaroni said on Friday.
ConocoPhillips intends to sell its Kashagan stake to Oil and Natural Gas Corp Videsh (ONGC.NS) for about $5 billion.
Under the right of first refusal, its partners in the Kashagan field, the biggest oilfield discovery in over four decades, have nearly two months to decide whether they want the 8.4 percent stake in the project promised to the Indian group.
"We are not interested in exercising our right," Scaroni told reporters on the sidelines of an event.
Existing partners in the Kashagan project are state-run KazMunaiGas, Eni, ExxonMobil (XOM.N), Inpex Corp (1605.T) of Japan, Royal Dutch Shell (RDSa.L) and France's Total (TOTF.PA).
(Reporting by Giancarlo Navach, writing by Antonella Ciancio, editing by Francesca Landini)
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