Stephen Simpson, CFA
Long only, growth at reasonable price, value, research analyst

Eni's Solid Upstream Overshadowed By Multiple Downstream Issues

To paraphrase Mark Twain, Italy's Eni (NYSE:E) is a good upstream company spoiled. In this case, the spoilage comes from money-losing capital sinkholes in the downstream operations like its Gas & Power and Refining & Marketing operations. To be sure, Eni's upstream operations are not perfect or risk-free, as the com...

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