Eni posts third-quarter net loss, misses expectations

Italian oil major Eni posted an adjusted net loss in the third quarter worse than expected due to lower oil prices and a production shutdown at a key Italian field. In a statement Eni said its adjusted net loss in the quarter was 0.484 billion euros (434 million pounds), below an analyst consensus provided by the company for a loss of 0.07 billion euros. Eni, which confirmed it would cut investments this year by 20 percent, said it expected oil and gas output for the year to be substantially in