{"id":560229,"date":"2021-02-21T04:07:45","date_gmt":"2021-02-21T04:07:45","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2021\/02\/21\/eni-scales-back-egypt-production-after-demand-shock\/"},"modified":"2021-02-21T04:07:45","modified_gmt":"2021-02-21T04:07:45","slug":"eni-scales-back-egypt-production-after-demand-shock","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2021\/02\/21\/eni-scales-back-egypt-production-after-demand-shock\/","title":{"rendered":"Eni scales back Egypt production after demand shock"},"content":{"rendered":"

<\/a> Eni\u2019s daily production of oil and gas from its Egypt-based assets fell 18% in 2020<\/strong>, as global energy markets reckoned with one of the biggest demand shocks in history thanks to the pandemic. Figures in the company\u2019s full-year earnings statement (pdf)<\/a> show that oil and gas production slumped to 291k barrels of oil equivalent per day (boe\/d) from 354k in 2019, while natural gas output fell 20% to 1,203 mn cubic feet per day. The energy major operates Egypt\u2019s giant Zohr natural gas field, the Noor concession, and the Damietta LNG plant<\/a>, among others.<\/p>\n

Eni remained in the black for 2020<\/strong>, despite seeing revenues plunge 36% to EUR 18 bn. The company cut back on capital spending, allowing it to net a EUR 1.7 bn bottom line through the year, down 43% from almost EUR 3 bn in 2019.<\/p>\n","protected":false},"excerpt":{"rendered":"

Eni\u2019s daily production of oil and gas from its Egypt-based assets fell 18% in 2020, as global energy markets reckoned with one of the biggest demand shocks in history thanks to the pandemic. Figures in the company\u2019s full-year earnings statement (pdf) show that oil and gas production slumped to 291k barrels of oil equivalent per […]<\/p>\n","protected":false},"author":1,"featured_media":560230,"comment_status":"closed","ping_status":"open","sticky":false,"template":"single-feature.php","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[7207],"tags":[409,93,197,72,91],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-560229","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-energy","tag-earnings-watch","tag-energy","tag-eni","tag-enterpriseam","tag-oil-and-gas","wpautop","entry"],"acf":{"mongo_id":"1cdd8a70-cef7-49dd-9859-0657edc32b61","is_powered_by":true,"story_type":"1","photo_url":"https:\/\/ent.news\/2021\/2\/294.jpg","photo_position":"above","related_issue":[560220],"teaser":"","voice_url":""},"yoast_head":"\nEni scales back Egypt production after demand shock - EnterpriseAM Egypt<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/enterpriseam.com\/egypt\/2021\/02\/21\/eni-scales-back-egypt-production-after-demand-shock\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Eni scales back Egypt production after demand shock\" \/>\n<meta property=\"og:description\" content=\"Eni\u2019s daily production of oil and gas from its Egypt-based assets fell 18% in 2020, as global energy markets reckoned with one of the biggest demand shocks in history thanks to the pandemic. Figures in the company\u2019s full-year earnings statement (pdf) show that oil and gas production slumped to 291k barrels of oil equivalent per […]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/enterpriseam.com\/egypt\/2021\/02\/21\/eni-scales-back-egypt-production-after-demand-shock\/\" \/>\n<meta property=\"og:site_name\" content=\"EnterpriseAM Egypt\" \/>\n<meta property=\"article:published_time\" content=\"2021-02-21T04:07:45+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/i0.wp.com\/ent.news\/2021\/2\/294.jpg?fit=%2C&ssl=1\" \/>\n<meta name=\"author\" content=\"enterpriseam admin\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"enterpriseam admin\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2021\/02\/21\/eni-scales-back-egypt-production-after-demand-shock\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2021\/02\/21\/eni-scales-back-egypt-production-after-demand-shock\/\"},\"author\":{\"name\":\"enterpriseam admin\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#\/schema\/person\/ca597032db7e4db868359c123cec256d\"},\"headline\":\"Eni scales back Egypt production after demand shock\",\"datePublished\":\"2021-02-21T04:07:45+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2021\/02\/21\/eni-scales-back-egypt-production-after-demand-shock\/\"},\"wordCount\":139,\"publisher\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#organization\"},\"image\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2021\/02\/21\/eni-scales-back-egypt-production-after-demand-shock\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/i0.wp.com\/ent.news\/2021\/2\/294.jpg?fit=%2C&ssl=1\",\"keywords\":[\"earnings watch\",\"energy\",\"Eni\",\"EnterpriseAM\",\"oil and gas\"],\"articleSection\":[\"Energy\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2021\/02\/21\/eni-scales-back-egypt-production-after-demand-shock\/\",\"url\":\"https:\/\/enterpriseam.com\/egypt\/2021\/02\/21\/eni-scales-back-egypt-production-after-demand-shock\/\",\"name\":\"Eni scales back Egypt production after demand shock - 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The company produced 1,331 mn cubic feet per\u2026","rel":"","context":"In "Energy"","block_context":{"text":"Energy","link":"https:\/\/enterpriseam.com\/egypt\/category\/industries\/energy\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2023\/2\/eni-1600px.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":570981,"url":"https:\/\/enterpriseam.com\/egypt\/2020\/04\/26\/breakdown-in-naturgy-eni-and-egpc-damietta-dispute-resolution\/","url_meta":{"origin":560229,"position":1},"title":"Breakdown in Naturgy, Eni and EGPC Damietta dispute resolution","author":"enterpriseam admin","date":"26 April 2020","format":false,"excerpt":"DISPUTE WATCH- The resolution of a long-simmering dispute over a shuttered Damietta LNG plant has fallen apart despite an agreement reached last month, according to a cabinet statement. Parties to the dispute include Spanish gas firm Naturgy Energy Group, Italy\u2019s Eni, and the Egyptian government. 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