Italian energy major Eni reported first quarter adjusted net profit of €1.3 billion, below analyst expectations, as refining and chemicals weakness and heavy downstream maintenance weighed on results despite strong upstream production growth.
Italian energy major Eni reported first quarter adjusted net profit of €1.3 billion, below analyst expectations, as refining and chemicals weakness and heavy downstream maintenance weighed on results despite strong upstream production growth. Reported net income was about $1.5 billion.
But the bigger headline was Eni’s decision to raise its 2026 share buyback to €2.8 billion and lift cash flow from operations guidance 20% to €13.8 billion. Eni expects E&P production to increase 2-4% in the second quarter and 3-4% for the full…