Eni cuts dividend on steep Q2'20 loss and warns of 'great uncertainty to come'

摘要

A storming performance by Eni's gas and power business could not prevent the company from falling to a Q2'20 loss, with the Italian major posting a loss of EUR 4.1 billion, largely due to asset write downs. Eni's CEO warned of “signs of great uncertainty still to come”, with the company cutting its dividend and announcing that it will deepen cost cuts and reduce its capex budget further.