Italy’s Eni lowered its long-term oil price assumptions on Tuesday, saying that the coronavirus pandemic would have “an enduring impact” on the global economy and energy industry. Weeks after BP and Shell revised down their long-term price assumptions, Eni also cut its 2020-2024 and long-term oil and gas pricing scenario, warning of $4 billion (3.5 billion euro) in post-tax impairment charges against non-current assets for the second quarter, plus/minus 20 percent. Eni now forecasts Brent Crude prices at $60 a barrel in 2023 compared to its previous assumption of $70 a barrel. For the years 2020-2022, Brent prices are expected to be at $40, $48, and $55 per barrel, respectively, compared to the previous assumptions of $45, $55, and $70 a barrel. While reducing its oil price assumptions, the Italian company reiterated today its February commitment to reduce its carbon footprint and possibly even speed up its efforts to […]