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Eni SpA-ADR

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Eni SpA’s total liquids and gas production in the third quarter of 2015 was 1,703 thousand barrels of oil equivalent per day, up 8.1% year over year.  Higher production in Libya, along with ongoing production ramp ups at the fields in Angola, Venezuela, the United Kingdom, Egypt and the United States (that were brought online in 2014), contributed to the production growth. With the expected strengthening of the global economy, we believe that Eni offers ample opportunity for profitability in the coming quarters. However, Eni reported a loss from continuing operations that compared unfavorably with the year-earlier earnings.  Main concerns for the company are cyclical low returns, doubts over rising competitive threats to its core gas business and quality of the upstream growth profile


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