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Rising oil prices help Italy’s ENI

Energia Petrolio Gas JIACC

Italian oil and gas company Eni said on Friday the recovery in global crude prices along with record production helped it swing back into profit in 2017

Source: The Local – The company turned a loss of €1.46 billion in 2016 into a net profit of €3.4 billion in 2017, much higher than the average of just under 2.0 billion expected by analysts surveyed by Factset Estimates. Eni’s shares climbed 1.5 percent in morning trade in Milan, which was up 1.2 percent overall. n the fourth quarter alone the company recorded a net profit of €2.1 billion, six times the level of last year and more than three times the amount expected by analysts

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® JIAC 2017 – C.F. 97866940584 - Credits