Save for later Print Download Share Italian giant Eni said this week it would reduce capex by at least 鈧�500 million ($569 million) in 2025 and slashed its Brent price forecast from $75/bbl to $65/bbl due to uncertainty around tariffs. The capex cuts are part of broader "mitigating actions" that Eni said it was taking to offset more than 鈧�2 billion of macrodriven negative effects and keep its shareholder distribution pledge 鈥� and most of its 2025 business targets 鈥� intact. US tariffs and retaliatory action from other countries have raised concerns about disruption to supply chains and economic growth, pushing benchmark Brent down around 8% over the past month. Eni's gross capex for 2025 is now expected to come in under 鈧�8.5 billion. Eni CFO Francesco Gattei said the 鈧�2 billion of 鈥渋nitial鈥� actions includes rescheduling spending, cost optimization initiatives and "portfolio improvement." Eni also cut its gas price forecast from 鈧�44.40/MWh to 鈧�41/MWh.
