Eni Delaying Investments in Iraq

Italy’s Eni SpA has said it is delaying planned investments in Iraq in an effort to preserve cash, as it deals with the effects of lower oil prices.

Chief Executive Claudio Descalzi (pictured) told The Wall Street Journal that the company wants to concentrate on more profitable oil and gas projects, but declined to say if the company might be forced to cut its dividend.

The company has a 32.81 percent stake in Iraq’s Zubair oil field.

(Source: WSJ)

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