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EUROPE SAYS

Eni lifts 2026 buyback plan to $3.9 billion after Q2 profit more than doubles

AI Market Summary
Eni's Q2 2026 results show a sharp uplift in upstream profitability, with adjusted net profit doubling and E&P EBIT up 97% YoY, supported by higher realized liquids prices ($96.50/bbl) and 7% YoY production growth. The company's raised 2026 production guidance and larger buyback program reinforce a "supportive pricing environment" narrative, underpinning near-term sentiment for crude-linked assets and the broader energy complex.
Impact level
● Medium
Affected assets
NCCO1OILBRENT2USD/USDT+4.38%
AI Insight · NCCO1OILBRENT2USD/USDTAI Insight
▲ Bullish
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Eni reported 2026 second-quarter results with adjusted net profit of $2.65 billion, more than double from a year earlier. Its exploration and production unit posted a 97% year-on-year rise in pro forma adjusted EBIT. The company’s average realized liquids price climbed 54% to $96.50 per barrel, highlighting stronger upstream profitability alongside higher spot oil prices.
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