Eni’s adjusted 4Q profit up 55pct. Full year O&G output at all-time-high

Italian oil company Eni posted a 55 rise in adjusted net profit, reporting €1.46 billion in the fourth quarter of 2018, compared to adjusted net profit of 943 million euros in the corresponding quarter a year ago.

According to Reuters, Eni’s adjusted net profit results beat an analyst consensus forecast 1.19 billion euros.

Net profit fell to 499 million euros, down from 2,047 billion in the fourth quarter of 2017. Worth noting, the fourth quarter of 2017 benefitted from approximately €2,7 billion of net gains achieved in connection with the disposal of interests in Zohr gas field offshore Egypt and Area 4 in Mozambique.

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