Eni S.p.A. Sponsored ADR (MIL:ENI) reported strong H1 2026 results—adjusted pro forma EBIT ~€8.9B, net profit €3.6B and production +11%—boosting guidance and buybacks, while advancing a 50/50 Cronos gas project with TotalEnergies to feed Egypt’s Damietta LNG by 2028, even as a Congo asset deal with Vitol was terminated.
Previous Week Recap
- Eni S.p.A. Sponsored ADR H1 2026 Highlights: ENI posted H1 2026: adjusted pro forma EBIT ~€8.9B, net profit €3.6B, production +11% YoY. Company raised production and cash‑flow guidance and boosted buyback plans.
- Cronos Gas Project Off Cyprus Approved: ENI and TotalEnergies greenlight Cronos gas project offshore Cyprus (50/50). Target first gas 2028, ~500 MMcf/d (~2.8 Mtpa LNG). Gas routed to Egypt’s Damietta for liquefaction and export to Europe.
- Vitol 2025 Filing: Eni ADR Deal Terminated: Vitol's 2025 filing states that a transaction with Eni S.p.A. Sponsored ADR (ENI) for assets in the Republic of Congo was terminated after it reached its long stop date in March 2026.
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