Eni's profits rose five-fold in the second quarter of 2026 as it became the latest energy firm to cash in on soaring oil prices during the conflict in the Middle East.
Eni earned €3.3 billion in the quarter, well above analysts' expectations, the company said on Wednesday.
Revenue rose by 30 percent to €24.4 billion, driven by both higher production and higher prices, it said.
CEO Claudio Descalzi said the "excellent" results were underpinned by the company's diversified portfolio, which he said gives it "a wide range of options" for profitable growth across its energy businesses.
Production rose 11 percent thanks to new projects ramping up in West Africa, the Gulf of Mexico, Norway and Indonesia.
