Investing.com — executives said Friday that the ongoing Middle East crisis will have a marginal impact on the Italian energy company’s oil production and cash flow, though they warned the situation could prove more significant than current market estimates suggest.
The company will honor all commitments to customers for deliveries of jet fuel, diesel and gasoline, an Eni executive said.
Eni plans to deconsolidate 2.6 billion euros in debt from its Plenitude subsidiary, the executive added.
On the demand outlook, the executive said it is too early to discuss potential demand destruction for hydrocarbons.
The company expects its chemical unit to deliver significantly better results in the second quarter compared to the first quarter.
Eni has begun engaging with trading companies to combine skills in the trading sector, the executive said.
The company also expects new developments that will increase flexibility to recoup trade receivables from Venezuela, according to the executive.
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