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Italy’s Eni reports net loss in Q3 due to lower oil prices

by ChemOrbis Editorial Team -
  • 28/10/2016 (14:13)
According to media reports, Italy’s Eni reported an adjusted net loss of €0.484 billion ($528 million) for the third quarter due to a production shutdown and the decrease in oil prices, missing analyst’s expectations calling for a loss of €0.07 billion.

The company said that investments would be cut by 20% in 2016. Oil and gas output in 2016 is also expected to be the same with last year.
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