Eni posts $3 Bn Q1 loss

摘要

Italy's Eni recorded a net loss of more than US $3 Bn in Q1 2020 due to the coronavirus pandemic and the oil price collapse. Eni posted a net loss of €2.93 Bn ($3.16 Bn) mainly due to the alignment of the book value of inventories to market prices current at the end of the quarter, said Eni. This compares to a net profit of €1.1 Bn ($1.2 Bn) in Q1 2019. Special charges also included impairment losses from oil gas assets and negative fair-valued derivatives, which couldn't be accounted as hedges, due to the scenario effects.