Eni Beats Earnings Forecasts as Oil and Gas Production Grows

Eni SpA (NYSE: E) raised its oil and gas production guidance and said it would accelerate the pace of share buybacks after reporting on Friday better-than-expected earnings for the second quarter, driven by its upstream division. The Italian energy major booked an adjusted net profit of $1.63 billion (1.5 billion euros) for the second quarter of 2024, down by 21% year-over-year but ahead of the analyst consensus estimate of $1.54 billion (1.42 billion euros). Oil and gas production rose by 6% from a year earlier, to 1.71 million barrels of oil…