Corona Capital: Eni, Greenland, IndiGo | Reuters

The good-ish news is that Eni has 16 billion euros in liquidity if cash flows disappoint this year. Less good is that its 2020 estimate for 7.3 billion euros of adjusted cash flow before working capital changes depends on Brent $45 a barrel – double where it is now.

With the second quarter shaping up to be much worse and no end in sight to Covid-19-related demand slump or a storage crunch, it’s a disconcerting canary in the coal mine. (By George Hay)

Source: Breakingviews – Corona Capital: Eni, Greenland, IndiGo – Reuters

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