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Eni posts 5.2 bn euro profit for 2013

Italian oil company produced over 1.6 million barrels a day

13 February, 11:41
Eni posts 5.2 bn euro profit for 2013 (ANSA) - Milan, February 13 - Italian oil and gas giant Eni closed 2013 with net profits up 24% over 2012 at 5.2 billion euros, according to a preliminary balance sheet issued Thursday.

Consequently, the company proposed paying a dividend of 1.10 euros per share on the year's earnings.

Of that, 0.55 euros was distributed as an interim dividend in September.

Eni produced 1.619 million barrels of oil a day in 2013, down 4.8% from 2012.

The drop was due to unspecified "geopolitical factors", the company said.

Eni Chief Executive Officer Paolo Scaroni described the 2013 results as "solid in a particularly difficult market".

Company stocks rose 1% to 17.16 euros on the Milan bourse at the start of Thursday trading in response to the figures.