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Eni's Profits Soar 125% as Refining Boom Fuels Massive Investor Payouts
Italian energy group Eni is boosting its payout to investors with an extraordinary dividend and increased share buybacks after more than doubling its third-quarter earnings on higher oil and gas production and soaring refining margins. Eni’s adjusted net profit more than doubled from a year earlier to $3.14 billion (2.8 billion euros) for the third quarter, driven by higher oil and gas production and realizations and more than doubled refining margins across its operations, the Italian company said on Friday. The profit topped consensus estimates…
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