Eni posts $2.54bn loss for Q2 2019

Eni posts $2.54bn loss for Q2 2019
Published: 30 July 2019 - 10 a.m.
By: Carla Sertin
Italian energy firm Eni posted a $2.54bn loss for Q2 2019, down 11% quarter on quarter.

The company produced 1.83mn barrels of oil equivalent per day (boed) in Q2, with startups and ramp ups added 218,000boed, mainly focused in Egypt and Libya.

It started production at the SW Meleiha development in Egypt, and confirmed startups in Egypt and Algeria in the second half of the year. In Algeria, Eni also started up the Berkine oil field this year.

Eni also discovered new resources totaling 350mboed across the globe. Its upstream segment saw a 1.3% decrease in greenhouse gas emissions year on year, which it says is in line iwth its reduction target for 2025.

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