Strong Financial Performance
Net income of €1.4 billion, up around 60% quarter-on-quarter, demonstrating financial resilience and strong performance in line with expectations.
Upstream Production and Strategic Start-Ups
Initiation of production at Johan Castberg and plans for further start-ups, targeting over 400,000 barrels per day by Q4, setting up for a strong 2026.
Transition Business Developments
Construction of a 200 MW battery in Texas by Plenitude and a new 400,000 ton per year SAF facility at Gela, Sicily, showing significant progress in transition businesses.
Successful Portfolio Management
Achieved €3 billion in valorization and divestment proceeds, with significant cash inflows from increased stakes in Plenitude and Enilive.
Enhanced Financial Position
Balance sheet leverage reduced to 18%, with Pro Forma leverage at 12%, the minimum in company history, indicating strong financial positioning.