Italian oil and gas company Eni SpA increased its net profit by more than 15 times in the second quarter of 2022 amid rising oil and gas prices.
According to a company press release, net profit in April-June amounted to 3.82 billion euros, compared with 247 million euros in the same period last year.
Operating profit excluding one-off items increased to 5.84 billion euros from 2.05 billion euros.
Revenue almost doubled to 31.56 billion euros from 16.29 billion euros a year earlier.
Oil and gas production in the second quarter remained virtually unchanged in annual terms, amounting to 1.58 million barrels of oil equivalent per day (boe/d), Eni said in a statement.
The company expects hydrocarbon production for the full year to be around 1.67 million boe/d. The average price of Brent oil this year is expected to be $105 per barrel.