Eni profits surge five-fold, sharpening focus on Basilicata oil future

Eni, the Italian energy giant, reported a five-fold increase in second-quarter profits on Wednesday as soaring oil prices during the Middle East conflict boosted earnings, according to The Local Italy. The company became the latest European oil major to benefit from the surge in crude prices that has followed the escalation of hostilities in the region.

The profit jump places Eni at the centre of a familiar tension for Basilicata, the southern region that hosts the Val d'Agri oil field — Italy's largest onshore extraction site, operated by Eni since the 1990s. The field produces roughly 80,000 barrels per day, a figure widely cited in international reporting on Italian energy, though not contained in the current wire.