1251 GMT - Eni's updated strategy contained no surprises and effectively extends prior strategic guidance, RBC Capital Markets analysts Biraj Borkhataria and Adnan Dhanani write. The strategy, set out Thursday, continues to focus on value creation in its upstream division and a focused energy transition strategy which is already working, they write. The Italian energy major has continued its joint-venture 'satellite' model but as this proliferates, investors may begin to wonder whether the benefits are offset by the complicated nature of its portfolio, they add. "Understanding cash flow trends over time will depend on the dividend policies of such entities, and this creates less transparency," they write. Shares trade down 1.6% at 13.85 euros. (adam.whittaker@wsj.com)
(END) Dow Jones Newswires
February 28, 2025 07:51 ET (12:51 GMT)
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