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| Share Name | Share Symbol | Market | Type |
|---|---|---|---|
| Eni Spa | BIT:ENI | Italy | Ordinary Share |
| Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
|---|---|---|---|---|---|---|---|---|---|---|
| -0.138 | -0.90% | 15.136 | 15.11 | 15.20 | 15.438 | 15.116 | 15.344 | 8,355,224 | 17:00:00 |
From Apr 2019 to Apr 2024
By Nathan Allen
Eni SpA (ENI.MI) said Friday that its second-quarter profit fell sharply due in part to a weaker trading environment and the spin off of its former subsidiary Eni Norge.
The Italian oil major said quarterly net profit fell to 424 million euros ($472.3 million) from EUR1.25 billion a year earlier.
Eni attributed the lower earnings to a negative trading environment in almost all of its business units and the deconsolidation of its Norge subsidiary, which was spun off into a joint venture with Norway's Point Resources called Var Energi.
The company also booked a EUR142 million charge on its Sannazzaro refinery after revising its outlook to allow for lower margins.
Hydrocarbon production ticked down to 1.83 million barrels of oil equivalent a day from 1.86 million a year earlier, Eni said.
Write to Nathan Allen at nathan.allen@dowjones.com
(END) Dow Jones Newswires
July 26, 2019 02:38 ET (06:38 GMT)
Copyright (c) 2019 Dow Jones & Company, Inc.
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