The Italian government's new tax hitting energy companies will impact Eni SpA (E), Italy's biggest oil and natural gas company by revenue, by less than EUR500 million, said Chief Executive Paolo Sacroni Tuesday.
Eni's CEO was speaking on the sidelines on a conference in Rome. The figure will be "less than" EUR500 million, but he didn't give a more specific amount.
Last week, the government unveiled measures to tax the windfall profit of oil companies on soaring commodity prices and use the proceeds to soften the impact for lower-income households.
On Friday, broker Cheuvreux said it estimated the tax impacting Eni by EUR424 million.