Eni Announces Preliminary Results for the fourth Quarter and Fullyear 2007
Posted on February 15, 2008 – 4:45 pm | by oilandgaspress.com
Dividend proposal for the full year 2007: €1.30 per share, up 4% (includes interim dividend of €0.60 per share paid in October 2007)
Adjusted net profit: €2.68 billion for the fourth quarter (up 13.7%); €9.47 billion for the full year 2007 (down 9%)
Net profit: €3 billion for the fourth quarter (up 98%); €10 billion for the full year 2007 (up 8.6%)
Cash flow: €2.47 billion for the fourth quarter; (€15.52 billion for the full year 2007)
Oil and natural gas production: up 1.1% for the fourth quarter; down 1.9% for the full year 2007
Year end proved reserves1 were 6.37 bboe with a reference Brent price of $96/barrel. All
sources reserve replacement ratio was 90%
Natural gas sales: up 9.8% for the fourth quarter; up 0.9% for the full year 2007
San Donato Milanese, February 15, 2008 - Eni, the international oil and gas company today announces its group results for the fourth quarter and for the full year 2007 (unaudited).
Paolo Scaroni, Chief Executive Officer, commented:
“Eni delivered excellent results for the full year 2007 despite the euro’s strong appreciation versus the US dollar. We reinforced our growth strategy by completing a number of competitively-priced cquisitions which will deliver further value in years to come, starting from 2008.”
(1) Includes Eni’s share of proved reserves of equity-accounted entities. The year-end amount of proved reserves comprised 30% of proved reserves of the three equity- accounted Russian companies purchased as part of a bid procedure for assets of bankrupt Yukos and participated by Eni with a 60% interest, considering that it is probable that Gazprom will exercise a call option to acquire a 51% interest in these companies.
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