BREAKING NEWS

BREAKING NEWS

Italy's Eni keeps production outlook as first quarter profit misses forecast

Italy's Eni keeps production outlook as first quarter profit misses forecast
FILE PHOTO: The logo of Italian energy company Eni is seen at a gas station in Rome, Italy August 16, 2018. REUTERS/Max Rossi -
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MAX ROSSI(Reuters)
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MILAN (Reuters) - Italian energy group Eni stuck to its production growth targets for the year on Wednesday, as it reported profits for the first quarter coming in below market expectations.

Adjusted net profit in the quarter rose 4 percent to 992 million euros ($1.1 billion), below an analyst consensus provided by the company of 1.05 billion euros.

The oil major confirmed its oil and gas production would grow by 2.5 percent in 2019 with Brent at $62 per barrel and net of portfolio transactions.

(Reporting by Stephen Jewkes; Editing by Isla Binnie)

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