Eni Profits Plunge

30 July 2009 (Last Updated July 30th, 2009 18:30)

Italian oil giant Eni has posted a 60% fall in adjusted net profit, due mainly to lower oil prices. Second quarter adjusted net profit, which excludes inventory adjustments, fell to €902m ($1.3m). Oil and gas output averaged 1.733 million barrels a day in the period, down ju

Italian oil giant Eni has posted a 60% fall in adjusted net profit, due mainly to lower oil prices.

Second quarter adjusted net profit, which excludes inventory adjustments, fell to €902m ($1.3m).

Oil and gas output averaged 1.733 million barrels a day in the period, down just more than 2%.

An interim dividend of €0.50 a share was proposed by the board members, less than analyst estimates of an interim dividend in line with the €0.65 a share last year, according to Reuters.