Cairo-Mubasher: Italian energy company Eni reported consolidated net losses of 8.82 billion euros in 2015 on falling oil prices.
Combined losses during the fourth quarter of 2015 amounted to 8.46 billion euros, according to the company's website.
"We will cut capital spending by 20% this year to overcome crude price volatility," Eni said.
Tumbling oil prices push oil producers around the world to cut spending, employment and discovery activities.
