Published by Uma Rajagopal
Posted on October 23, 2024
1 min readLast updated: January 29, 2026
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MILAN (Reuters) – Italy’s Eni is expected to announce an overhaul of its chemical business in the coming days as it presses ahead with its energy transition programme, two sources with knowledge of the matter said on Tuesday.
MILAN (Reuters) – Italy’s Eni is expected to announce an overhaul of its chemical business in the coming days as it presses ahead with its energy transition programme, two sources with knowledge of the matter said on Tuesday.
Eni said in March its loss-making chemical business Versalis aimed at reaching break-even at the core profit level next year after recording a 200 million euro ($216 million) loss in the first half of this year.
Versalis’ overhaul would involve around 2 billion euros in capital expenditures, one of the source said, confirming what has been firstly reported by Bloomberg News.
($1 = 0.9254 euros)
(Reporting by Francesca Landini, editing by Alessandro Parodi)
Capital expenditure refers to funds used by a company to acquire, upgrade, and maintain physical assets such as property, buildings, or equipment.
Sustainability in business refers to operating in a manner that meets current needs without compromising the ability of future generations to meet their own needs.
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