Fri, Sep. 16, 7:46 AM
Feb. 13, 2014, 4:38 AM
- Eni's (E) Q4 adjusted net profit dropped 14% to €1.3B but topped forecasts of €1.2B.
- Net sales from operations fell 19% to €26.3B.
- Output dropped 9.7% to 1.577M barrels of oil equivalent a day.
- Eni's earnings were hurt by disruptions to its operations in Africa, lower refining results and the strengthening of the euro vs the dollar.
- Nonetheless, Eni plans to increase its dividend by 1.9% to €1.10 a share on 2013 earnings.
- Eni also said that it has discovered the equivalent of 2.5B barrels of oil and gas off the coast of the Republic of Congo in West Africa.
- Eni gave a downbeat outlook for 2014, "due to weak growth prospects in the eurozone and risks concerning emerging economies." (PR)