Skip to main content

Eni Q3 earns slide due to one-offs

MILAN (AP) — Italian oil giant Eni says third-quarter net profit slumped 57 percent, reflecting a one-off boost from capital gain in the same period of 2013.

Eni on Thursday reported net profit of 1.71 billion euros ($2.15 billion) for the three-month period ending Sept. 30, compared with nearly 3.9 billion euros in the same period last year that included a 3-billion-euro capital gain for the sale of a 20 percent interest in a Mozambique discovery. Adjusted net profit was up 2.5 percent.

Oil and gas production was down 3.5 percent to 1.58 million barrels of oil equivalent a day, as declines in mature fields and unscheduled interruptions dragged down production gains in Britain, Algeria and the United States.

During the quarter, the oil company reported significant discoveries in Congo and Indonesia.

Copyright 2014 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

Emergency guide: What you should do to prepare for emergencies

WASHINGTON — Do you know what you'd do if an emergency hits? What if you're at work, your spouse is stuck in traffic and your children are in school? There's no way to plan for every emergency, but you can make sure you're prepared for different scenarios, including making a plan for your family and building a kit of emergency supplies.
Read Next Story