Eni Reports Strong Third Quarter as Improvement Efforts Take Hold
Eni continued its turnaround in the third quarter, growing earnings to EUR 1.4 billion from EUR 229 million the year before. The upstream segment contributed the bulk of the increase thanks to higher oil and gas prices as production growth stagnated during the quarter. A near 50% increase in realized prices offset flat production growth to increase earnings to EUR 1.4 billion from EUR 441 million a year ago. Although flat for the quarter, production has grown 3% year to date. Citing the negative...
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