Italian Eni posted a net profit of around €247 million (around $294 million) for the second quarter of 2021 compared to a €4.4 billion loss in the same quarter of last year, according to its financial results statement released on Friday.
The company had recorded a first-quarter gain of nearly €856 million.
Eni also posted a €1.1 billion income in the first half of the year, compared to a €7.3 billion loss in the same period of last year.
The revenue of the company for the April-June period reached €16.6 billion compared to €8.4 billion for the same quarter of 2020.
The company's first-half 2021 revenue amounted to €31.4 billion, up from €22.5 billion in the same period last year.
The company said the results were positively impacted by strong commodities and energy prices in the second quarter but were negatively affected by the pandemic. It said the gradual easing of OPEC+ output supported the cost of oil feedstock, while on the other hand demand for products was negatively affected, particularly for middle distillates.
By Firdevs Yuksel and Sibel Morrow