Eni SpA (NYSE:E)
$ 32.08 -0.43 (-1.32%) Market Cap: 51.24 Bil Enterprise Value: 74.24 Bil PE Ratio: 13.93 PB Ratio: 0.88 GF Score: 83/100
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Q1 2021 Eni SpA Earnings Call Transcript

Apr 30, 2021 / 12:00PM GMT
Release Date Price: $23.84 (-3.91%)
Operator

Good afternoon, ladies and gentlemen, and welcome to the Eni's 2021 First Quarter Results Conference Call, hosted by Mr. Francesco Gattei, Chief Financial Officer. (Operator Instructions)

I am now handing you over to your hosts to begin today's conference. Thank you.

Francesco Gattei
Eni S.p.A. - CFO

Good afternoon, and welcome to Eni First Quarter 2021 Results. 2021 is still a year of transition and the first quarter has demonstrated a different pace of recovery for our businesses. The quarter was positive for oil, with an 11% growth of Brent price in euro versus first quarter 2020. We have recorded a partial rebound of demand now at around 95 million barrels per day and a more materially disciplined supply, mainly thanks to the OPEC+ cut, a natural decline of tight oil production.

Likewise, chemicals rebounded strongly, benefiting from industry-wide disruptions due to the winter weather in the U.S. and higher demand in Asia. On the other hand, other sector are still facing a weak environment. Downstream was impacted by negative refining

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