Alejandro Vigil

Alessandro Pozzi

Biraj Borkhataria

Irene Himona

Lydia Rainforth

Matthew Smith

Peter Low

Henry Tarr

Joshua Eliot Stone

Massimo Bonisoli

Michele Della Vigna

Alastair Syme

Bertrand Hodee

Giacomo Romeo

Kim Fustier

Martijn Rats

Matthew Lofting

Paul Redman

Joshua Stone

Matt Lofting

- **BP** is advancing plans for its **Bumerangue hydrocarbon discovery** in Brazil's offshore Santos Basin, marking its **largest find in 25 years**.  **[1002242_8c2ed508eb3946dea4324edace89dd3a]** 
- The discovery confirmed a **1,000-meter gross hydrocarbon column**, including **100 meters of oil** and **900 meters of liquids-rich gas condensate**.  **[1002242_8c2ed508eb3946dea4324edace89dd3a]** 
- BP is accelerating appraisal activities and potential development concepts, aiming to begin **well activities in early 2027** pending regulatory approval, and is **seeking partners** for the project.  **[1002242_8c2ed508eb3946dea4324edace89dd3a]** 
- This find is part of BP's broader strategy to increase upstream production to **2.5 million barrels of oil equivalent per day by 2030**.  **[1002242_8c2ed508eb3946dea4324edace89dd3a]**

BP Advances Major Bumerangue Hydrocarbon Discovery

- Eni S.p.A. reported **proforma adjusted EBIT of €2,996 million**  **[1002242_0001104659-25-103429_tm2529419d1_6k.htm:3]**  and **adjusted net profit of €1,247 million**  **[1002242_0001104659-25-103429_tm2529419d1_6k.htm:3]**  for Q3 2025. Cash flow from operations before changes in working capital at replacement cost (CFFO) was **€3,297 million**.  **[1002242_0001104659-25-103429_tm2529419d1_6k.htm:3]** 
- Hydrocarbon production in Q3 2025 increased by **6% year-over-year to 1.76 million barrels of oil equivalent per day (boe/d)**.  **[1002242_0001104659-25-103429_tm2529419d1_6k.htm:2]** **[1002242_0001104659-25-103429_tm2529419d1_6k.htm:3]**  The company's installed renewable capacity reached **4.8 GW** by the end of Q3 2025.  **[1002242_0001104659-25-103429_tm2529419d1_6k.htm:3]** 
- The Board approved the second tranche of the 2025 dividend provision of **€0.26 per share**, payable on **November 26, 2025**.  **[1002242_0001104659-25-103429_tm2529419d1_6k.htm:0]**  Eni also increased its 2025 share buy-back commitment by **€0.3 billion to €1.8 billion**  **[1002242_0001104659-25-103429_tm2529419d1_6k.htm:5]** , with proforma leverage at quarter-end standing at **12%**.  **[1002242_0001104659-25-103429_tm2529419d1_6k.htm:5]** 
- For 2025, Eni raised its guidance for CFFO before working capital adjustments to **€12 billion**  **[1002242_0001104659-25-103429_tm2529419d1_6k.htm:6]**  and oil and gas production to a **1.71-1.72 million boe/d range**.  **[1002242_0001104659-25-103429_tm2529419d1_6k.htm:6]**  Year-end proforma leverage is expected to be in the **0.15 - 0.18 range**.  **[1002242_0001104659-25-103429_tm2529419d1_6k.htm:6]**

Eni S.p.A. Reports Strong Q3 2025 Results and Raises Guidance

- Eni reported **Q3 2025 pro forma adjusted EBIT of €3 billion**, a **12%** increase from Q2, and **adjusted net income of €1.25 billion**, effectively in line year-on-year despite a **14%** fall in crude oil prices.  **[0001002242_2202099_1]** **[0001002242_2202099_2]** 
- Upstream production reached **1.76 million barrels per day** in Q3 2025, up **6%** year-on-year, leading to an improved full-year 2025 production target of **1.71 to 1.72 million barrels per day**.  **[0001002242_2202099_2]** 
- The company raised its **2025 share buyback to €1.8 billion** from €1.5 billion and increased its expected cash flow from operations pre-working capital to **€12 billion** from €11.5 billion.  **[0001002242_2202099_3]**  Net debt was **€9.9 billion**, with leverage at **19%**.  **[0001002242_2202099_2]** 
- Key project milestones include the start of production from Azule Energy's Agogo West Up Development, FID on Coral North FLNG offshore Mozambique, and progress towards FID on Argentine LNG.  **[0001002242_2202099_1]**  The company also completed the sale of a **30%** stake in the Baleine field and an agreement for a **49.99%** stake in Eni CCUS Holding.  **[0001002242_2202099_1]**

Eni Reports Strong Q3 2025 Results, Raises Production and Share Buyback Guidance

- Eni reported **better-than-expected third-quarter earnings**, with adjusted net profit reaching **1.25 billion euros**.  **[1002242_2c3da7d444d84f409287e927ff23e19b]** 
- The company's oil and gas production grew **6% year-over-year** to **1.76 million barrels per day**, prompting an **upward revision of its annual production guidance** to **1.72 million barrels per day**.  **[1002242_2c3da7d444d84f409287e927ff23e19b]** 
- Eni increased its **full-year 2025 share buyback program by 20%**, raising the total commitment to at least **1.8 billion euros**, and also **raised its dividend by 5%** to **1.05 euros per share**.  **[1002242_2c3da7d444d84f409287e927ff23e19b]** 
- The cash flow outlook is now projected at **12 billion euros** before working capital adjustments, with pro forma leverage near historic lows at approximately **12%**.  **[1002242_2c3da7d444d84f409287e927ff23e19b]**

Eni Reports Strong Q3 Earnings, Raises 2025 Buyback and Dividend

- Eni acquired **2,671,660 shares** on Euronext Milan between **September 29 and October 3, 2025**, at a weighted average price of **14.9720 euro** per share, for a total consideration of **39,999,985.81 euro**.  **[1002242_0001174947-25-001269_form6k-34757_eni.htm:1]** 
- These purchases represent **0.08% of the share capital** during that period.  **[1002242_0001174947-25-001269_form6k-34757_eni.htm:1]** 
- Since the start of the buyback program on **May 20, 2025**, Eni has acquired a total of **61,735,687 shares**, equivalent to **1.96% of the share capital**, for a total consideration of **880,047,859.34 euro**.  **[1002242_0001174947-25-001269_form6k-34757_eni.htm:1]** 
- As of October 3, 2025, Eni holds **153,346,014 treasury shares**, representing **4.87% of its share capital**.  **[1002242_0001174947-25-001269_form6k-34757_eni.htm:1]**

Eni Reports on Treasury Share Purchases

- Eni S.p.A. acquired **2,129,963** treasury shares, representing **0.07%** of its share capital, between **September 23 and 26, 2025**, at a weighted average price of **15.0237 euro** per share.  **[1002242_0001174947-25-001255_form6k-34741_eni.htm:1]** 
- The total consideration for these purchases amounted to **31,999,985.85 euro**.  **[1002242_0001174947-25-001255_form6k-34741_eni.htm:1]** 
- Since the buyback program began on May 20, 2025, Eni has repurchased a total of **59,064,027** shares, equivalent to **1.88%** of the share capital, for **840,047,873.53 euro**.  **[1002242_0001174947-25-001255_form6k-34741_eni.htm:1]** 
- As of September 26, 2025, Eni holds **150,674,354** treasury shares, which constitutes **4.79%** of its share capital.  **[1002242_0001174947-25-001255_form6k-34741_eni.htm:1]**

Eni reports on treasury share purchases

- Italy's Competition Authority has fined **six major oil companies**, including **Eni** and ExxonMobil's Esso, a total of **over €936 million** for forming a cartel that manipulated biofuel component prices.  **[1002242_43357224274d4fbea6abec21a8fc71ce]** 
- The cartel operated between **January 2020 and June 2023**, coordinating to set and increase the value of the bio component, which **tripled** during this period.  **[1002242_43357224274d4fbea6abec21a8fc71ce]** 
- **Eni received the largest share of these fines, amounting to €336 million**.  **[1002242_43357224274d4fbea6abec21a8fc71ce]** 
- This anti-competitive behavior distorted market competition and increased costs in the logistics and transport sector, highlighting Italy's intensified scrutiny of the energy sector.  **[1002242_43357224274d4fbea6abec21a8fc71ce]**

Eni: Italy Fines Six Oil Firms for Fuel Cartel

- On **September 15, 2025**, Eni S.p.A. acquired **537,858 shares** on the Euronext Milan at a weighted average price of **14.8738 euro** per share, for a total consideration of **7,999,998.77 euro**.  **[1002242_0001174947-25-001242_form6k-34720_eni.htm:0]** 
- Since the buyback program commenced on **May 20, 2025**, Eni has acquired a cumulative total of **56,934,064 shares**, representing **1.81% of the share capital**, for a total consideration of **808,047,887.68 euro**.  **[1002242_0001174947-25-001242_form6k-34720_eni.htm:0]** 
- Eni currently holds **148,544,391 shares**, which is **4.72% of its share capital**, including both existing and newly purchased treasury shares.  **[1002242_0001174947-25-001242_form6k-34720_eni.htm:0]**

Eni reports on treasury share purchases on September 15, 2025

- Eni acquired **2,629,136 shares** (equal to **0.08%** of the share capital) on the Euronext Milan between **August 25 and 29, 2025**.  **[1002242_0001174947-25-001172_form6k-34650_eni.htm:1]** 
- The weighted average price per share for these purchases was **15.2141 euro**, totaling **39,999,996.51 euro**.  **[1002242_0001174947-25-001172_form6k-34650_eni.htm:1]** 
- Since the buyback program started on **May 20, 2025**, Eni has acquired a total of **51,052,637 shares** for a total consideration of **720,047,899.18 euro**.  **[1002242_0001174947-25-001172_form6k-34650_eni.htm:1]** 
- Eni now holds **142,662,964 shares**, which is equal to **4.53%** of its share capital.  **[1002242_0001174947-25-001172_form6k-34650_eni.htm:1]**

Eni S.p.A. Reports on Treasury Share Purchases in Late August 2025

- **ADNOC** has finalized a **15-year sales and purchase agreement** to supply **1 million tonnes per annum (mtpa) of liquefied natural gas (LNG)** to **Indian Oil Corporation (IndianOil)**, primarily from the **under-construction Ruwais LNG project**.  **[1002242_c6c7c666b220482892a9907c1e3cd7c9]** 
- The **Ruwais LNG project**, set to commence commercial operations in **2028**, will add **9.6 mtpa** capacity, more than doubling ADNOC’s existing UAE LNG production capacity to around **15 mtpa**.  **[1002242_c6c7c666b220482892a9907c1e3cd7c9]**  This facility will be the **first Middle East LNG facility powered by clean energy** and among the **lowest-carbon intensity LNG plants globally**.  **[1002242_c6c7c666b220482892a9907c1e3cd7c9]** 
- By **2029, IndianOil** is expected to become **ADNOC’s largest LNG customer** with a total offtake of **2.2 mtpa**.  **[1002242_c6c7c666b220482892a9907c1e3cd7c9]** 
- In **November 2024, ADNOC Gas** announced plans to spend about **$5 billion** to acquire a **60 percent operating interest** in the Ruwais LNG export plant from its parent company ADNOC, with the acquisition expected in the **second half of 2028**.  **[1002242_c6c7c666b220482892a9907c1e3cd7c9]**

ENI (E)