- A sharp drop in crude prices wreaked havoc on Eni's (NYSE:E) Q4 results, as the Italian oil and gas group reported lower profits and hefty write-downs.
- Adjusted profit fell by two-thirds to €464M, way below analysts' estimates of €614M, while the company marked down the value of its inventories by €860M and booked asset impairments and other charges of €1.94B.
- Placating investors, Eni slightly raised its yearly dividend to €1.12 a share, from €1.10 a year ago.