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In quarter 1, 2015 Eni’s net profit decreased by 46%

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ENI_logoIn quarter 1, 2015 net profit of the Italian Eni oil company decreased by 46%, because of slump of oil prices, but exceeded the forecasts of the analysts.

            Net profit dropped to 649 million Euro with the forecast of 460 million Euro. Slump of oil prices was partially compensated by growth of investment income and profitability of refining, reported Eni.

            This year the company plans to increase oil and gas extraction at the expense of new and expansion of the already currently in force projects in Angola, Congo and Egypt and unstable Libya. Eni leads among the foreign oil companies in Africa in the extraction.

            This year the company intends to reduce investments. Till 2018 Eni plans to reduce the investments by 17%. According to the company’s forecast, this year gas dales will remain at the last year’s level, not considering sale of assets in Germany, reported http://reuters.com.

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