Bloomberg: Italy Seeks $18 Billion Investment Ditching Offshore Ban: Energy

Mario Monti’s government is trying to attract as much as $18 billion in investment to Italy by relaxing a ban on offshore oil and natural-gas exploration imposed by Silvio Berlusconi after the 2010 Gulf of Mexico spill.

The premier, who must jump-start the economy to help stem Italy’s debt crisis, last month ruled that companies such as Eni SpA, Edison SpA and Royal Dutch Shell Plc  can resume shallow- water projects within 12 kilometers (7 miles) of the coast they were forced to abandon in 2010. The decree needs Parliamentary approval and the lower house is set to debate it July 23.  MORE