Eni lowers output target and chops capex amid Covid-19 and $3 billion loss

Italian major takes 2021 capex down by up to 35% and lowers Brent assumptions

Weaker results: for Eni, led by chief executive Claudio Descalzi — Weaker results: for Eni, led by chief executive Claudio DescalziPhoto: REUTERS/SCANPIX

Eoin O'Cinneide

London

Europe Southern Europe

Published 24 April 2020, 06:14Updated 24 April 2020, 07:19