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Thank you for reading Eni's profit down 27% in the second quarter and we are now starting with the latest details.
ABU DHABI – Italian energy group Eni said its adjusted second-quarter net profit fell 27 percent year-over-year, exceeding expectations as the company was hit by falling oil and gas prices.
Net profit for the second quarter was 0.56 billion euros (624 million euros), lower than the average forecast of 0.95 billion euros.
The oil giant, which has reduced its previous investment target of 8 billion euros, said it expects oil and gas production to increase by two to two and a half percent with a price of $ 62 per barrel and the net trading of the company's portfolio.
(Reuters)
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