Eni, the Italian oil and gas giant, announced that its oil and gas production has recorded 1.76 million barrels of oil equivalent (mmboe/d) in the third quarter (Q3) of 2025, jumping 6% compared to Q3 2024 and 5% compared to quarter two (Q2) 2025.
For 2025 outlook, Eni raised expectations for the oil and gas production to a 1.71-1.72 mmboe/d range, implying a quarter four (Q4) level of around 1.8 mmboe/d.
The company stated that this increase is a result of accelerated and smooth start-ups and ramp-ups, strong operational continuity and optimized turnaround activity.
The exploration and production (E&P) segment delivered €2.64 billion (Bn) in pro forma adjusted earnings before interest and taxes (EBIT). This figure was down 19% year-on-year (YoY), but it was up around 9% from the previous quarter. Higher production and efficiency measures helped offset weaker crude prices and unfavourable currency movements.
Pro forma adjusted EBIT is a financial metric that combines two accounting concepts, pro forma and adjusted EBIT, to give a clearer picture of a company’s underlying operating performance. Pro forma adjusted earnings are a company’s profits after removing one-time or unusual items to show its regular, ongoing performance more clearly.
Overall, Eni achieved an adjusted net profit of €1.2 Bn. Eni’s output declined by 2.6% YoY in the second quarter of 2025 but rose 1.3% from the previous quarter, reinforcing a positive outlook for the remainder of the year.
Eni, founded in 1953, is active in oil and gas exploration, production, refining, and marketing, as well as in renewables and low-carbon technologies. The company has been expanding its focus on energy transition, investing in biofuels, hydrogen, carbon capture, and offshore wind, while maintaining a strong upstream portfolio in Africa, the Middle East, and Europe.
