Eni SpA

ENI: XMIL (ITA)
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Eni Earnings: Cash Flexibility Supports Distribution Targets Despite E&P Weakness

Eni’s second-quarter results came in ahead of market expectations. Lower oil prices and production weighed on exploration and production's adjusted EBIT, down 33% year over year. The firm adjusted guidance on a more optimistic $70/barrel outlook, while leaving distribution targets unchanged.

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