Eni boosts financial outlook amid ongoing strategic partnership with Algeria
Italian energy firm Eni has raised its financial targets for 2026, bolstered by a 7% year-on-year increase in production, which hit 1.83 million barrels of oil equivalent per day during the third quarter. The company has adjusted its operational cash flow forecast to 16.5 billion euros and authorized a 3.8 billion euro share buyback program. Algeria remains a cornerstone of Eni's African operations, sustained by its long-standing alliance with Sonatrach. This includes a 30-year agreement for the Zemlet El Arbi area and significant stakes in the Reggane 2 and Touat fields. While Eni reported a strong global performance with a 2.8 billion euro adjusted net profit for the quarter, the latest financial report does not specify production or investment figures solely for its Algerian operations. Globally, the company continues to focus on asset optimization and growth across Africa, South America, and Southeast Asia while maintaining a disciplined net debt ratio of 9%.
