UPDATE 2-Italian energy group Eni to review its Middle East projects [Reuters]
BASF SE S/ADR (BASFY)
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Source: Reuters
UPDATE 2-Italian energy group Eni to review its Middle East projects - Reuters 2 Min Read (Adds more quotes, details, context) By Dahlia Nehme DUBAI, March 24 (Reuters) - Italian energy group Eni is reviewing its projects in the Middle East because of the coronavirus pandemic and oil market conditions, a senior company official said on Tuesday. Eni’s portfolio in the Middle East includes upstream and downstream projects in Bahrain, Lebanon, Oman and the United Arab Emirates. The projects to be scrutinised include those in partnership with the Abu Dhabi National Oil Co (ADNOC). “We are at the moment reviewing all our ongoing projects for this year, 2020, and 2021,” Fuad Krekshi, Eni’s regional executive vice president, told a media conference call. “We expect to come out with the revised plan sometime in the next month.” “It’s not just coronavirus here,” he added. “You are talking about a market with a sudden drop of prices by 50 percent ... so we are looking at both sides, the price i
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