Eni Reports Good 2Q 2018; Strong Exploration and Production Drive Results
Eni’s second quarter looked much like first-quarter 2018. Higher oil prices, paired with strong production growth, lifted adjusted operating profits in exploration and production but caused margins in the refining and chemicals segment to weaken. In total, adjusted operating profits increased to EUR 2.6 billion from EUR 1 billion last year, while adjusted net profits climbed to EUR 767 million from EUR 463 million. Cash flow generation remained strong in the second quarter, with adjusted net cas...
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