Eni Raises Production Forecast and Increases Share Buyback to €3.4 Billion
Italian energy company Eni has raised its full-year hydrocarbon production growth forecast for 2026 from 3%–4% to around 5%, following strong second-quarter performance driven by higher commodity prices, improved business segment results, and double-digit production growth. The firm reported adjusted EBIT of €5.38 billion in Q2, with upstream operations contributing significantly due to increased output and cost control. Eni also expanded its share buyback program from €2.8 billion to €3.4 billion for 2026 while reaffirming a dividend of €1.10 per share. The company is considering an extraordinary dividend if refining margins remain strong. Strategic moves included forming the Searah joint venture with Petronas, approving major upstream projects in Côte d'Ivoire and Angola, entering critical minerals through investments in lithium and graphite, and advancing renewable energy initiatives.
Topics: dividend guidance EBIT growth oil and gas production share buybacks