Eni executives said on Friday that the current crisis in the Middle East should have only a marginal effect on the company's oil production and cash flow. While the situation remains fluid, company officials cautioned that outcomes could prove more material than prevailing market assessments indicate.
Customer commitments and fuel deliveries
An Eni executive emphasised that the group will meet all contractual obligations for deliveries of jet fuel, diesel and gasoline. That commitment extends to existing customer contracts despite the broader geopolitical uncertainty.
Balance-sheet adjustment at Plenitude
The company said it intends to deconsolidate roughly 2.6 billion euros of debt linked to its Plenitude subsidiary. The move was described by an Eni executive as a planned adjustment to how that debt is presented on the company’s accounts.
Demand, chemicals and trading
On the demand outlook for hydrocarbons, Eni stated it is too early to conclude whether the crisis will trigger meaningful demand destruction. The company also expects its chemical unit to post markedly better results in the second quarter than it recorded in the first quarter, signalling anticipated improvement within that business line.
Separately, Eni has begun discussions with trading houses aimed at combining expertise in the trading sector, the executive said. Those conversations are positioned as a way to enhance the company’s trading capability.
Receivables and Venezuela
Eni indicated it foresees new developments that should increase its flexibility in recovering trade receivables from Venezuela. The company framed these anticipated changes as measures that will improve its ability to recoup outstanding sums.
This report presents the company's statements and plans as communicated by Eni executives and does not introduce additional facts beyond those provided by the company.