Eni reported a 511% year-over-year jump in second-quarter net profit to €3.319 billion, driven by higher hydrocarbon output and improved refining margins, while raising its full-year production growth forecast to around 5%, up from prior guidance of 3% to 4%. First-half net profit reached €4.390 billion, more than double the year-ago figure.
The Milan-based energy group increased its 2026 share buyback programme to €3.4 billion, up from €2.8 billion, while reaffirming a planned dividend of €1.10 per share. Chief Executive Claudio Descalzi said the company achieved 11% underlying production growth in the quarter to 1.79 million barrels of oil equivalent per day. Eni noted an extraordinary dividend could be considered in October if refining margins stay elevated.
Operationally, Eni approved several offshore development projects in Côte d'Ivoire, Angola and Cyprus, formed a gas joint venture with Petronas in Southeast Asia, and signed an agreement with Mercuria for a global commodities trading venture. The company also advanced plans to partially deconsolidate its renewable energy arm Plenitude while retaining a 65% stake.