Eni Profit Falls on Lost Oil Production From Libya, Nigeria
By Alessandra Migliaccio
Adjusted net income declined to 1.3 billion euros ($1.77 billion), Eni said in a statement today. That’s higher than the 1.21 billion euro mean estimate of 17 analysts surveyed by Bloomberg. Oil and gas production fell 9.7 percent.
“Eni achieved solid results in a particularly difficult market,” Chief Executive Officer Paolo Scaroni said in a stock exchange statement.
Eni, the biggest foreign oil producer in Libya, has been struggling with reduced output all year as power struggles between regions led to strikes and other disruptions.
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