Busy quarter for the Italian producer, which closed the ADNOC transaction as well as the acquisition of Exxon’s assets in Norway. The 5% qoq decline in adjusted operating profit was only slightly better than the consensus estimate though, as Q2 was rather weak, and was mainly due to production increasing above expectations in Egypt.
25 Oct 2019
Q3: Zohr ramp-up to continue
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Q3: Zohr ramp-up to continue
Busy quarter for the Italian producer, which closed the ADNOC transaction as well as the acquisition of Exxon’s assets in Norway. The 5% qoq decline in adjusted operating profit was only slightly better than the consensus estimate though, as Q2 was rather weak, and was mainly due to production increasing above expectations in Egypt.