Competitive environment

A challenging market

An international environment characterized by oversupply and low prices, the ongoing transformations in the European mid-downstream businesses and the gradual process of decarbonisation in the energy system, represent the main challenges faced by the oil companies.

The surplus in supply and the downward dynamic on prices require a strategy of capex rationalization, addressed to projects with lower break-even and initiatives finalized to cost reduction.

To achieve the target of limiting global temperature increase, natural gas can play a central role as main carbon alternative.