Investor Presentaiton
SCENARIO ASSUMPTIONS
4YP SCENARIO
2024
2025
2026
2027
Brent dated ($/bbl)
80
80
80
80
FX avg ($/€)
1.08
1.09
1.10
1.12
Ural MED c.i.f. - Med Dated Strip ($/bbl)
-10
-10
-9
-8
Std. Eni Refining Margin ($/bbl)
8.1
6.3
3.5
3.5
PSV (€/MWh)
30.7
36.0
38.0
36.3
NBP ($/mmbtu)
9.2
11.0
12.1
11.7
SENSITIVITY 2024
Brent (1$/bbl)
European Gas Spot Upstream (1 $/mmbtu)
European Gas Spot Upstream (1 €/MWh)
Std. Eni Refining Margin (1 $/bbl)
Exchange rate $/€ (+0.05 $/€)
Brent sensitivity applies to liquids and oil-linked gas.
EBIT sensitivities don't include contribution from associates.
Sensitivity is valid for limited price variation.
EBIT adj
(€ bln)
Net adj
(€ bln)
CFFO before WC
(€ bln)
0.17
0.12
0.13
0.18
0.13
0.13
0.06
0.04
0.04
0.12
0.08
0.12
-0.43
-0.26
-0.54
For energy use purposes PSV variation of 1$/MMBTU has an impact of -15 mln € on SERM calculation.
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