Eni Reports Positive 4Q Results Thanks to Strong Upstream Performance
Eni ended the year on a positive note, as efficiency and cost-saving gains contributed to a strong upstream performance offsetting weak refining margins and negative contributions from the gas and power segment in the fourth quarter. Full-year adjusted results came in at a loss of EUR 340 million versus a gain of EUR 803 million in 2015. Eni also updated its strategic plan for 2017-20. We plan to incorporate the new guidance into our model but do not expect a material change to our EUR 14/$30 fa...
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