Italian giant Eni is reportedly considering a major reorganisation of its business in response to the current market that would see it breaking off into two separate units.
According to a report by Italian media outlet IlSole24, Enis restructuring plans could see one segment of the business dedicated to oil-related midstream and upstream activities, with a second arm focused on the energy transition and downstream.
Eni has been approached for comment.
Eni, which recently reported nearly 3 billion ($3.3 billion) of losses for the first quarter of the year, put its business plans under review in March as its home market was witnessing one of the worst outbreaks of Covid-19 in Europe.
