Eni Misses Q4 Profit Estimate as Oil Prices and Refining Margins Dip

Eni SpA (NYSE: E) on Thursday reported a 46% plunge in its adjusted net profit for the fourth quarter of 2024, missing analyst forecasts as lower oil and gas prices and refining margins more than offset higher upstream production. Eni booked an adjusted net profit of $935 million (892 million euros) for the fourth quarter, below the consensus estimate of $1 billion (960 million euros) as its refining and chemicals divisions posted losses, due to weak products crack spreads and lower throughputs. The chemicals division, in particular, continued…