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Eni S.p.A (E) Q1 2021 Earnings Call Transcript
Motley Fool Transcribers
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Eni S.p.A (NYSE: E)
Chief Executive Officer
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 barrel per day and a more materially disciplined supply, mainly thanks to the OPEC+ cut and natural decline of state oil production. Likewise, chemicals rebounded strongly, benefiting from industrywide disruptions due to the winter weather in the US and higher demand in Asia. On the other end, other sector are still facing a weak environment. Downstream was impacted by negative refining margins and the lower vol ....

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