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Milan, 29 Jul. (LaPresse) – in the first half of 2011 Eni said a net profit of EUR 3.8 billion, a decrease of 6% during the same period a year earlier. Adjusted net income is however $ 3.63 billion, an increase of 4% on an annual basis. This is what makes six-legged dog company, adding that the adjusted operating profit totalled EUR 9.1 billion, an increase of 8% over the same period in 2010. Board of Directors of the ENI has also agreed to propose a dividend of EUR 0.52 per share dividend.

“In the first half 2011,” said advertising, Paolo Scaroni suffered production non-Libya that have affected all our sectors of activity. Despite the Libyan crisis and gas supply costs, which, in the half, does not take into account ongoing renegotiation, retroactive benefits Eni received solid results including supported the improvement of profitability at E & P. In the period-adds-we have consolidated our growth prospects thanks to the progress on development projects in exploratory major achievements and new agreements in areas of basic and new sectors with strong potential. “Expected solid results for 2011 and the future profitability and growth opportunities allow us to confirm our dividend policy and to propose a dividend of EUR 0.52 per share.

According to data published by the company this morning in the production of 2011 second quarter dropped to 1.489 million barrels per day, 15% less than the same period in 2010. In half of the production is down 12% on an annual basis. After the crisis in Libya and the price of the effect, but production fell only 2% in the quarter and 1 percent in the half. In the gas of 2011 second quarter, sales were cubic metres of $ 21 billion, an increase of 9% over the same period the previous year. On the sale of six months increased by 7%.

In the second quarter of 2011 Eni said a net profit of EUR 1.25 billion, 31% over the same period last year. Adjusted net income was $1.44 billion euros with a decrease of 14% over the second quarter of 2010 due to the decrease in operating performance and an increase of two percentage points of the consolidated tax rate.

Operating profit adjusted for six-legged dog company has EUR 4 billion, down 3% since the second quarter of 2010, caused by the negative performance of downstream areas.

In the fourth quarter of gas industry & Power reported a 60% drop due to strong pressure from the competition and the scenario which penalized margins in unit sales. The adjusted gas & Power does not take into account the possible effects of renegotiating current contracts for long term economic effect which, if successful, could be before June 30.

The refining and petrochemical Marketing & closed the quarter with a net operating loss widening, penalized by the high cost of oil does load transferred to the final price of the products. These negative trends have been mitigated by improved performance of field Exploration & Production (+ 11%) driven by the oil scenario to absorb the economic effects of the loss of production in Libya and the impact of the appreciation of the euro against the dollar (+ 13%).

Also the & Construction Engineering sector has improved performance (+ 10%) by the growth of business volume and profitability of orders. In the second investment techniques quarter 2011 to 3,740 million (6,615 million for the six months) covered mainly the development of hydrocarbon deposits, the modernization of the fleet of naval construction and drilling of gas transportation and Saipem infrastructure.

ENI headquarters in San Donato Milanese-photo: LaPresse