EQNR - Eni: Very Impressive Results Driven By High Oil Prices

• Eni's financial results showed substantial improvements compared to the prior year, which was largely driven by increases in energy prices.
• The company's production was down for the full-year 2021 but also up compared to the prior-year quarter, which was also due to it adapting to the macroeconomic environment.
• The company failed to discover sufficient reserves to replace its production, which is a problem but fortunately, it appears to be reversing this situation.
• The company is investing heavily in renewables and saw tremendous YOY profit improvement from this aspect of its business.
• The market appears to not be fully valuing in the company's forward potential, which could represent an opportunity for investors.

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