The Italian energy group Eni announced that it will write off about 3.5 billion euros (4 billion dollars) from the value of its assets; Due to the economic repercussions of the Corona crisis.
According to ArabiaNet, the company announced lowering its long-term forecasts for Brent crude prices for the year 2023 to $ 60 a barrel from $ 70 in its previous estimates and reducing gas prices to 5.5 Dollars per million British thermal units, from $ 7.8.
"Changing long-term estimates four months after the Covid-19 pandemic spread, reflects our current outlook for the future of prices," said Claudio Descalzi, the group's chief executive, said after four months of the Covid-19 pandemic.
The move follows a similar write-off of assets from competitors such as BP and Shell, with demand deteriorating due to the Covid-19 crisis and the shift to low-carbon energy, which raises a process Recalculation of reserves and asset values.
Eni said that it now expects the price of Brent crude at $ 40, $ 48 and $ 55 a barrel for the years 2020, 2021 and 2022, respectively, compared with previous estimates of $ 45, $ 55 and $ 70. Dollars.
Descalzi confirmed the group’s strategy to become a leader in reducing carbon emissions despite the continuing repercussions of the Covid-19 pandemic on the global economy and the group.
He said we are assessing how to speed up our plans.
