By Giulia Petroni

Eni SpA on Wednesday said it will pay around 1.4 billion euros ($1.40 billion) in a charge related to an Italian windfall tax levied on energy companies in 2022, more than twice its original estimate.

The oil-and-gas major said it has already paid around EUR560 million as an advance payment. Eni previously determined the total amount of the extraordinary contribution to be around EUR550 million, but said the amount has now been redetermined following clarifications provided by the Italian tax authorities.

The Italian government imposed a 25% windfall tax on energy companies benefiting from surging prices for oil and gas. Under the plan, companies were set to make a 40% down payment by the end of June, while the rest is due by November.

At 0931 GMT, shares trade 4.5% lower at EUR11.69.

Write to Giulia Petroni at giulia.petroni@wsj.com

(END) Dow Jones Newswires

August 31, 2022 05:57 ET (09:57 GMT)

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