The oil-and-gas producer and Italy’s largest refiner reported a decline in production for 2013 as well as a weaker adjusted profit from the prior year’s levels. Challenges are mostly expected to persist this year. In late April, Eni projected that retail sales of refined products in Italy and the rest of Europe would decline slightly between 2013 and 2014. It expects natural gas sales to be lower, and predicts that excess supplies and overcapacity will weigh on margins for energy commodities.
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