Quarterly profit of the energy company Eni increased by 2.6 times
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Net profit of the Italian energy company Eni increased in the third quarter by 2.6 times, amounting to €3.7 billion. This turned out to be better than analysts’ expectations, which predicted a profit of €3.2 billion. Good results of Eni’s gas production and transportation division contributed to profit growth. Eni shares after the publication of financial statements rose by 2.3%.
In recent months, Eni, like some other Western European energy companies, has faced interruptions in gas supplies from Russia. “We plan to replace at least 50% of gas from Russia using our broad and diversified reserve base, longstanding relationships with producing countries and growing presence in the LNG market,” Claudio Descalzi, CEO of Eni, said yesterday, October 27.
Previously, several other energy companies released good quarterly reports, including Equinor, TotalEnergies and Shell.
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