Eni CEO: Big Oil Bets on Southeast Asia and Latin America

AI Summary

Eni CEO Claudio Descalzi indicated that the oil and gas industry is shifting investments toward Southeast Asia and Latin America due to ongoing shipping disruptions in the Strait of Hormuz. The Middle East remains a geopolitical risk zone with supply constraints expected from key producers.

The oil and gas industry is shifting its capital investments toward Southeast Asia and Latin America due to prolonged shipping disruptions in the Strait of Hormuz, Eni S.p.A (NYSE:E) CEO Claudio Descalzi has revealed. Speaking to a parliamentary committee on Thursday, the leader of Italy’s Oil & Gas major says that geopolitics in the Middle East will remain a permanent risk even after peace is established, emphasizing that major producers like Russia and the Gulf nations are likely to face long-term supply constraints, fundamentally reshaping…