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Eni Profit Falls on Lost Oil Production From Libya, Nigeria

Eni SpA, Italy’s biggest oil company, said profit slumped 14 percent in the fourth quarter due to production halts in Libya and Nigeria and shrinking refining margins.

Adjusted net income declined to 1.3 billion euros ($1.77 billion), Eni said in a statement today. That’s higher than the 1.21 billion euro mean estimate of 17 analysts surveyed by Bloomberg. Oil and natural gas production fell 9.7 percent.