Investors unconvinced by Eni's 'solid budget' plan
Claudio Descalzi's strategy to reduce debt and focus on upstream has yet to convince investors
Almost a year after taking the helm at Eni, in April Claudio Descalzi was defending his strategy to reduce the Italian major’s debt by divesting assets, slashing dividends and refocusing on upstream operations. Investors, however, are yet to be entirely convinced the new management team can pull it off. “The aim of our plan is a solid budget, to be achieved by covering investments and dividends with budget cash, reducing the quota of distributed profits to below 100% and down to 60% in 2017-2018, keeping the debt/equity ratio below 30% with a decreasing trend from 2016 onwards, and launching 16 new projects for oil and gas production,” Descalzi said in an interview with the Italian daily Cor
Also in this section
19 January 2026
Newfound optimism is emerging that a dormant exploration frontier could become a strategic energy play and—whisper it quietly—Europe’s next offshore opportunity
16 January 2026
The country’s global energy importance and domestic political fate are interlocked, highlighting its outsized oil and gas powers, and the heightened fallout risk
16 January 2026
The global maritime oil transport sector enters 2026 facing a rare convergence of crude oversupply, record newbuild deliveries and the potential easing of several geopolitical disruptions that have shaped trade flows since 2022
15 January 2026
Rebuilding industry, energy dominance and lower energy costs are key goals that remain at odds in 2026
