Core Viewpoint - Eni can now receive oil from Venezuela as payment for gas, following an easing of U.S. sanctions, which allows the company to recover a significant debt owed by Venezuela, estimated at around $3 billion [1]. Group 1: Financial Implications - Venezuela owes Eni approximately $3 billion, which has been a significant issue due to previous sanctions that restricted payment methods [1]. - The ability to pay with oil is expected to improve Eni's financial position and reduce outstanding debts [1]. Group 2: Operational Developments - Eni is collaborating with U.S. companies on potential joint ventures to enhance oil production in the Junin and Corocoro fields, which could expedite the recovery of credits from Venezuela [1]. - The company operates the Perla offshore gas project, the only active offshore gas project in Venezuela, and is considering exporting some of the gas produced to Europe to replace supplies previously sourced from Russia [1].
Eni can now receive oil from Venezuela as payment for gas, CEO says