Eni SpA (E), Italy's biggest energy company by revenue, is keeping its forecast for Brent oil prices unchanged at $90 a barrel, adding that it expects the price of crude to be in a downward trend, rather than a rising one.
Eni SpA (E), Italy's biggest energy company by revenue, is keeping its
forecast for Brent oil prices unchanged at $90 a barrel, adding that it expects
the price of crude to be in a downward trend, rather than a rising one.
"Oil prices should be in the $90 to $100 a barrel range, unless there are
dramatic international events," Chief Executive Paolo Scaroni said
Thursday, speaking on the sidelines of a conference.
Around 0920 GMT, ICE Brent crude oil futures for August delivery were down 54
cents, or 0.5%, at $105.22 a barrel, as the army's ousting of President
Mohammed Morsi in
Egypt
late
Wednesday, after days of violent protest, appeared to restore some calm to the
market.
The unrest in
Egypt
has
prompted Eni to repatriate most of its foreign staff in the North African
country as a safety precaution, said Mr. Scaroni. However, the Italian company
hasn't stopped natural gas production in
Egypt
.
"All is going well [in
Egypt
for
our operations]," said Mr. Scaroni, adding he was a little concerned "but
not a lot" about the situation there.
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