Rome, Italy — Italy’s oil giant Eni said Friday profits and revenue sank last quarter due to lower oil prices and a weak dollar.
Net profit fell by 18 percent year-on-year to 543 million euros ($637 million) in the second quarter.
In the first half of the year, net profit slid by eight percent to 1.71 billion euros.
Revenues also declined in the second quarter by 14 percent year-on-year to 18.8 billion euros, the company said in a statement.
The oil giant also confirmed its production target of 1.7 million barrels of oil a day for the current year, despite a three percent decline in the second quarter.
But CEO Claudio Descalzi said that despite a “difficult market”, the company still had “excellent results in the second trimester of 2025.”
The company’s adjusted net profits fell by 25 percent to 1.1 billion euros in the second quarter and by 18 percent in the first half of the year to 2.5 billion euros.
The Italian group also stayed on track with its energy transition targets with installed renewable energy capacity increasing by 45 percent, it said.
