BernsteinResearch
expects Eni (E) to continue operating in Venezuela following the death of
President Hugo Chavez as the Latin American country requires its investment and
expertise to tap into the vast hydrocarbon reserves. It calculates that Eni's
2012 Venezuela daily output was at 14,000 barrels of oil equivalent, but
predicts it will jump to 162,000 in 2020--making it the biggest producer in the
country by then. Bernstein keeps at market perform and EUR20 target. Shares
+0.7% at EUR17.91.