Italian energy giant ENI said
Thursday that it posted a loss 0.11 billion euros in the second
quarter of this year due to falling oil prices.
It said that its adjusted net profit for the quarter was
0.14 billion euros, down 84%.
It said it registered a net profit of 0.59 billion euros
in the first half of 2015, down 70%, while its adjusted net
profit for the period was 0.79 billion euros, down 62%.
The company proposed a dividend of 0.40 euros per share.
ENI CEO Claudio Descalzi was upbeat about the results.
"In the first half of the year we have achieved excellent
industrial results across our businesses, which enable us to
revise upwards several of the targets set out in the strategic
plan presented in March," he said.
"Despite the halving of oil prices, we have generated €5.7
billion of cash flow, in line with the first half of 2014, which
has financed almost all capital investment in the half year.
"This is a very significant result, given that
self-financing investment is the main challenge facing the
sector today".
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