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.