Eni earnings soared on higher oil prices, production

Eni SpA (ENI.MI) said Friday that its second-quarter net profit has soared due to rising oil prices and output growth.

The Italian tanker's net profit was 1.25 billion euros The adjusted net profit rose to 767 million euros against 463 million euros, but was lower than the forecast badysts compiled by the company, which was 1.00 billion euros. According to Eni, adjusted operating profit more than doubled from 1.2 billion euros to 2.56 billion euros, against nearly 2.58 billion euros. , due to lower investment income and financial products. improved performance of exploration and production activities. Adjusted operating profit of the unit climbed to 2.44 billion euros vs. 845 million euros

The turnover climbed to 18.84 billion euros against 18.07 billion euros

Eni announced that it was planning capital expenditure of 7.7 billion euros in 2018