MOSCOW (MRC) -- Italian oil supermajor Eni S.p.A. reported its fourth-quarter and full-year earnings results, revealing its net profit annually tumbled 84% to EUR550 million, or diluted earnings per share of EUR0.97, said the company.
The company's adjusted operating profit remained mostly unchanged in the same period at EUR3.8 billion. In 2022, both Eni's net and operating profit more than doubled versus a year earlier to reach record EUR13.81 billion and EUR20.39 billion, respectively.
"Our strategic objectives are unchanged: we will invest to ensure stable and affordable supplies to meet energy market demand and decarbonize our operations and clients, while maintaining financial discipline to ensure attractive returns for our shareholders," CEO Claudio Descalzi noted. Commenting on the outlook, Eni said it will unveil its 2023 financial targets during its capital markets day.
We remind, PDVSA has allocated an oil cargo to a unit of Eni for a February loading, the first to the Italian firm following a contract suspension this year by new management at the state-run company, people familiar with the matter said. Eni and Spanish oil firm Repsol in May last year received authorizations from the U.S. State Department to take the crude to Europe for outstanding Venezuela debt and dividends, an exception to U.S. oil sanctions on Venezuela.