Eni Increases 2026 Buybacks as Production Growth Accelerates

Eni (E:NYSE) is raising its share buyback program for the year after reporting on Wednesday consensus-beating earnings for the second quarter on the back of higher oil and gas prices and a jump in upstream production.

The Italian energy major booked an adjusted net profit of $2.65 billion (2.33 billion euros) for the second quarter, more than doubled from $1.29 billion (1.13 billion euros) for the same period last year, and higher than a company-provided consensus estimate of $2.4 billion (2.09 billion euros).

Eni attributed the profit jump to…