LNG

May 10 (LNGJ) - Italian energy company Eni reported first-quarter net profits of 630 million euros ($686M) compared with a loss of 266M euros in the same three months of 2016. “The disposal of assets in Egypt and Mozambique, which are expected to close before the end of the year, will contribute to a further strengthening of the Group’s financial position,” the company said. During the quarter, Eni signed a deal to sell a 25 percent interest in its natural gas discoveries in Mozambique to ExxonMobil for around $2.8 billion in cash. It also completed the sale of a 10 percent interest in the Zohr natural gas field in Egypt to BP.