Italian energy firm Eni posted a record profit in 2022, driven by high oil and gas prices, and said it aims to fully replace Russian gas imports within two years.
The $14.6 billion net profit has been the company’s highest in more than two decades although oil and gas production fell by 4% to 1.61 million barrels per day of oil equivalent.
The jump in oil and gas prices following Russia’s invasion of Ukraine has helped energy firms to bumper profits, which has led some countries to impose windfall taxes.
Eni said it was subject to windfall taxes on energy profits totalling 1.7 billion euros, of which 1 billion was paid in 2022.
The company said it has taken a lead in seeking ensure the security and stability of energy supplies after Russia cut back gas deliveries to Europe as tensions over Ukraine flared.
“During the year, we were able to finalise agreements and activities to fully replace Russian gas by 2025, said Eni CEO Claudio Descalzi.
