Eni Keeps Buybacks by Cutting Capex and Costs Amid Oil Price Slide ...Middle East

Amid the oil price crash and macro headwinds, Eni SpA (NYSE: E) on Thursday reduced its capital expenditure plans for 2025 and vowed to cut more costs as it maintained the planned shareholder distributions such as dividend and buybacks.  The Italian energy major reported an adjusted net profit of $1.6 billion (1.41 billion euros) for the first quarter of the year, down by 11% from the same period of 2024. The earnings beat a company-provided consensus forecast of $1.3 billion (1.15 billion euros).  Analysts are watching how oil majors…

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