In the first quarter of 2012, adjusted net profit was €2.48 billion, up 13% compared with a year ago as a result of better operating performance. This positive effect was partially offset by higher financial charges, which increased by €207 million, and a higher consolidated tax rate, up approximately 6 percentage points.The physical impact was the result of a high fluctuating E&P, and to the revision of the so called rough impacts inactive over 2011. Looking at more detail at the exploration and production. In the first quarter of 2012, in reported liquids and gas production of 1,674,000 barrel of oil equivalent per day, representing a small decrease from the first quarter of 2011, down by 10,000 BOE per day or 0.6%.
ENI's CEO Discusses Q1 2012 Results - Earnings Call Transcript
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