ENI pledges higher returns as Q2 profit beats expectations

Hellenic Shipping News | Jul 31, 2021 at 2:00 AM
  • Italian energy group Eni ENI.MI pledged higher shareholder returns after swinging to a net profit in the second quarter to beat expectations as firmer oil prices offset lower production.
  • The move follows similar hikes at peers like Shell RDSa.L, as the industry signals confidence in a lasting recovery from the pandemic, reassuring investors on the roll out of risky climate strategies.
  • Eni, which confirmed a full-year oil and gas production forecast of about 1.7 million boe/d, doubled its forecast for renewable energy capacity to 2 gigawatts.