Eni Increases 2026 Buybacks as Production Growth Accelerates

Eni (E:NYSE) is raising its share buyback program for the year after reporting on Wednesday consensus-beating earnings for the second quarter on the back of higher oil and gas prices and a jump in upstream production. The Italian energy major booked an adjusted net profit of $2. 65 billion (2.

33 billion euros) for the second quarter, more than doubled from $1. 29 billion (1. 13 billion euros) for the same period last year, and higher than a company-provided consensus estimate of $2. 4 billion (2. 09 billion euros).