ENP Newswire -
Release date- 31072014 -
Adjusted operating profit:
Adjusted net profit:
Operating cash flow2 of the quarter at
Leverage at 0.24 compared to 0.25 at
Dividend proposal of
Oil and gas production: 1.58 mmboe/d, substantially unchanged from the second quarter of 2013 on a homogeneous basis3 and net of geopolitical factors;
Renegotiations of long-term gas contracts: about 60% of contracted volumes aligned to market conditions and downsized take-or-pay exposure;
New terms agreed for the development of the super-giant
Agreements signed to acquire new exploration licenses in
Resource base increased by 420 million boe in the first half, mainly in Congo,
In July, achieved a new important discovery offshore
Buyback program: 11.53 million shares repurchased for a total cost of
'In 2014 the overall market environment has deteriorated compared to last year, in particular in the European refining sector where margins have collapsed owing to excess capacity, causing us to accelerate the restructuring of our plants. Despite this negative backdrop, Eni reported a significant increase in cash flow thanks to the renegotiation of long-term gas supply contracts, which will bring Gas & Power breakeven forwards to 2014. In upstream, exploration continues to deliver outstanding successes and, in the context of the complex geopolitical environment, our oil and gas production remains stable. We have launched a new, slimmed-down organisation to maximise synergies and speed of operation. In light of these actions, on 17 September I will propose to the Board of Directors an interim dividend per share of
At the same time as reviewing this press release, the Board has approved the interim consolidated report as of
(1) Changes are determined by comparing year on year results.
(2) Net cash provided by operating activities.
(3) Excluding the effect of Artic Russia divestment.
Freephone for shareholders (from
Freephone for shareholders (from abroad): +80011223456
Web site: www.eni.com
* * *
Societa per Azioni Roma, Piazzale Enrico Mattei, 1
Tax identification number 00484960588
Tel.: +39 0659821 - Fax: +39 0659822141
This press release for the second quarter and first half 2014 (unaudited) is also available on the Eni web site eni.com.
Most Popular Stories
- PBS Series Examines America's Demographic Shift
- Americans Bet Big on Gambling Industry
- Exxon Gives Nod to Fracking Risks
- Petri Likely Broke House Ethics Rules
- California's Ban on Plastic Bags: What Now?
- Morgan: 'Can't Believe' Wal-Mart Blaming Him
- Wealth Gap Widens as Rich Spend More on Kids' Education
- Lack of Sea Ice Brings 35,000 Walruses Ashore
- Can You Be Fired for Using Medical Marijuana?
- Texas Sees Gains in Hispanic College Enrollment