Communication - Presse
Eni: results for the first quarter 2026
Eni: results for the first quarter 2026 Navigating market volatility while executing our strategy. Raising share buyback
Eni continues to deliver on its accretive growth strategy amid energy market disruptions and price volatility. The 1Q ’26 performance was ahead of operating and financial guidance for the year.
E&P production grew by 9% year-over-year to 1.8 mln boe/d. Further emphasizing the organic foundations of this outstanding growth, year-to-date exploration results have been exceptional with around 1 bln boe of resources discovered from activities in Angola, Côte d’Ivoire, Libya, Egypt and lastly the outstanding finding of Geliga in Indonesia. FIDs were taken at two major gas hubs in the Indonesian Kutei basin, providing further visibility on the production outlook.
The announced demerger of Plenitude will unlock value to Eni and support Plenitude in delivering efficient growth.
Both major Transition businesses are advancing their growth plans:
Enilive approved two major biorefining projects at the Sannazzaro and Priolo hubs.
Plenitude completed the acquisition of Acea Energia, adding 1.2 mln clients to its customer base.
Considering strong underlying performance and improved scenario, FY CFFO guidance is raised by 20% to €13.8 bln.
Consistent with Eni’s distribution policy of material upside participation for shareholders, the proposed share buyback is raised by around 90% to €2.8 bln.
San Donato Milanese, April 24, 2026 – Eni’s Board of Directors, chaired by Giuseppe Zafarana, yesterday approved the unaudited consolidated results for the first quarter of 2026. Eni CEO Claudio Descalzi said:
“Despite the challenges of volatile energy markets we remain focused on disciplined and consistent execution of our strategy to deliver to the market and our customers reliable, affordable and lower carbon energy. Our financial performance and strength, evident in our 1Q results, is key in supporting our continuing investment in our geographically diversified energy portfolio. In E&P we delivered outstanding production growth. We also continued to add further value to the portfolio thanks to exceptional exploration success and the progression of our project developments. The JV with Petronas in SE Asia, set to be launched shortly, will drive a new phase of growth and value generation in a key geography. Our transition satellites are leveraging strength of their integrated business model to generate recurring earnings, while pursuing meaningful self-funded growth. Enilive is building 2 MTPA of new biorefining capacity, including the two recent FID projects of Sannazzaro and Priolo. Plenitude is ramping up renewable generation assets and thanks to the acquisition of Acea Energia has hit 11 mln clients. Our plan to demerge the company ensures it is positioned to invest and grow in the most self-funded and efficient fashion. Looking forward, thanks to our high-quality and diversified asset portfolio, providing us with significant flexibility, E&P low breakeven prices and resilient financial structure, with gearing at historic lows, we are uniquely positioned to capture scenario improvements and to share expected upside with shareholders. Our new cash flow guidance of €13.8 bln at a revised scenario for the FY ’26 reflects this and will translate into an expanded buyback program of €2.8 bln, almost a 90% increase vs the original plan.”
