Eni production rate hits record high as third-quarter profit slumps

Italian energy group Eni racked up its highest ever production rate in the third quarter and said more was to come as net profits fell sharply on lower oil and gas prices.

Output jumped 6% to 1.89 million barrels of oil equivalent per day in the three months to September, boosted by production at its giant Zohr field in Egypt, new fields in Mexico and higher output in Kazakhstan and Ghana.

The company said it expected production to increase further in the final quarter.

Via Reuters

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