Accessibility/Mobile Features
Skip Navigation
Skip to Content
Editorial News
Business
Classified Sites

The Canadian Press - ONLINE EDITION

Eni profits more than double thanks to renegotiated long-term gas contracts

MILAN - Italian oil and gas company Eni says its second quarter earnings more than doubled thanks to its successful renegotiation of long-term gas supply contracts.

Eni said Thursday that net profit was 658 million euros, up from 275 million euros in the same period last year.

CEO Claudio Descalzi said that "Eni reported a significant increase in cash flow" due to deals for oil price cuts with Gazprom and Statoil. That helped lower sales prices and offset weaker demand in Eni's home Italian market.

Net sales dropped 2.7 per cent to 27 billion euros from 28 billion euros. Oil and gas production was 1.58 million barrels of oil equivalent a day, in line with a year earlier.

  • Rate this Rate This Star Icon
  • This article has not yet been rated.
  • We want you to tell us what you think of our articles. If the story moves you, compels you to act or tells you something you didn’t know, mark it high. If you thought it was well written, do the same. If it doesn’t meet your standards, mark it accordingly.

    You can also register and/or login to the site and join the conversation by leaving a comment.

    Rate it yourself by rolling over the stars and clicking when you reach your desired rating. We want you to tell us what you think of our articles. If the story moves you, compels you to act or tells you something you didn’t know, mark it high.

Sort by: Newest to Oldest | Oldest to Newest | Most Popular 0 Commentscomment icon

You can comment on most stories on brandonsun.com. You can also agree or disagree with other comments. All you need to do is register and/or login and you can join the conversation and give your feedback.

There are no comments at the moment. Be the first to post a comment below.

Post Your Commentcomment icon

Comment
  • You have characters left

The Brandon Sun does not necessarily endorse any of the views posted. Comments are moderated before publication. By submitting your comment, you agree to our Terms and Conditions. New to commenting? Check out our Frequently Asked Questions.

letters

Make text: Larger | Smaller

Brandon Sun Business Directory
The First World War at 100

Social Media

Canadian Mortgage Rates