Eni announced that it returned to profits in the fourth quarter of 2021, as sales more than doubled.
The Italian oil and gas company showed quarterly profits of 3.82 billion euros compared to the losses of 797 million euros a year ago.
On an adjusted basis, net profits stood at 2.11 billion euros, while profits were helped by strong commodity prices.
Quarterly sales stood at $ 26.76 billion, up from $ 11.63 billion a year ago.
Eni stressed that the production of hydrocarbons for the quarter amounted to 1.74 million barrels per day, lower than the 1.71 million barrels a year ago.
For the whole year, the company showed a net profit of 6.13 billion Euros compared to the losses of 8.64 billion Euros in 2020.
Sales for the year rose 74% to 76.57 billion euros, with the company announcing that this is the highest performance since 2021, when brent had exceeded $ 110 a barrel.
Source: Capital
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