What is Eni S.p.A. and what is its primary industry?

Eni S.p.A. is an Italian multinational energy company headquartered in Rome. Its primary industry is oil and gas, and it is recognized as one of the "supermajor" oil companies globally.

When was Eni founded, and what was its former legal name?

Eni was founded on February 10, 1953. Its former legal name was Ente nazionale idrocarburi, which translates to "National Hydrocarbons Board."

What is the ownership structure of Eni, particularly regarding the Italian government?

The Italian government holds a significant stake in Eni, specifically a 30.5% "golden share." This stake is divided, with 1.99% held directly by the Ministry of Economy and Finance and 28.5% held through Cassa Depositi e Prestiti.

On which stock exchanges is Eni traded, and what is its ticker symbol?

Eni is traded on the Borsa Italiana (BIT) under the ticker symbol ENI and on the New York Stock Exchange (NYSE) under the ticker symbol E. It is also a component of the Euro Stoxx 50 stock market index.

What were some of the diverse fields Eni operated in throughout its history, beyond oil and gas?

Historically, Eni has operated in various sectors including contracting, nuclear power, chemicals and plastics, refining and extraction machinery, the hospitality industry, and even the textile industry and news.

How did Eni rank in the Fortune Global 500 and Forbes Global 2000 lists in 2022?

In 2022, Eni ranked 111th on both the Fortune Global 500 and the Forbes Global 2000 lists. It was the third-largest Italian company on the Fortune list and the second largest on the Forbes list that year.

What was the significance of Agip in relation to Eni's founding?

Agip, founded in 1926 with the aim of exploring for and commercializing oil and its derivatives, was the existing company from which Eni was founded in 1953.

Who was Enrico Mattei, and what was his role in Eni's early years?

Enrico Mattei was appointed as Eni's chairman in March 1953 and is considered a key founder. He played a crucial role in shaping the company's early international strategy, including agreements with oil-producing nations.

What is the origin and symbolism of Eni's six-legged dog logo?

The six-legged dog logo, selected in 1952, is an imaginary animal created to symbolize the sum of a car's four wheels and its driver's two legs, representing mobility and power.

How did Eni's approach to exploration rights in North Africa differ from previous practices?

Starting in 1954, Eni secured exploration rights in North Africa by signing agreements with governments like Egypt's, which included an active and equal role for the crude-producing countries through joint ventures. This approach was known as the "Mattei formula."

What was the "Mattei formula" and where was it applied?

The "Mattei formula" was Eni's strategy of establishing joint ventures with oil-producing countries, granting them an active and equal role in exploration and production. This formula was notably applied in agreements with Egypt, and an attempt was made to implement it with Iran and the National Iranian Oil Company.

What significant agreement did Eni sign with the Soviet Union during the Cold War?

During the Cold War, Eni signed an agreement with the Soviet Union in 1960 to import Russian crude oil at low prices.

What circumstances surrounded the death of Enrico Mattei?

Enrico Mattei died in a plane explosion near Bascapè on October 27, 1962. While initially considered an accident, later investigations and trial records suggested it was a murder, possibly linked to protecting economic and political interests.

How did the 1973 Yom Kippur War and subsequent OPEC embargo affect Eni?

The oil crisis following the 1973 Yom Kippur War and the OPEC embargo prompted Eni to consolidate its international market position by signing agreements, such as one with Sonatrach for natural gas supply.

What major infrastructure project did Eni plan in the Mediterranean during the mid-1970s?

In the mid-1970s, Eni planned a significant infrastructure project involving the construction of a pipeline network spanning thousands of miles across Europe and the Mediterranean to transport natural gas over long distances.

What was the significance of the Trans-Mediterranean Pipeline for Eni?

The inauguration of the Trans-Mediterranean Pipeline, connecting Algeria to Sicily via Tunisia, allowed Eni to sign a new agreement with Libya for the exploitation of the Bouri oilfield, the largest in the central Mediterranean, further developing its international role.

When did Eni become a joint-stock company and when was it listed on stock exchanges?

Eni became a joint-stock company by Law Decree in 1992 and was subsequently listed on the Italian and New York Stock Exchanges in 1995.

What was Eni's strategy regarding its capital assets in the late 1990s?

From 1995 to 1998, Eni conducted four successful share offers, resulting in approximately 70% of its capital assets being sold to private shareholders.

How did Eni respond to the oil price collapse in 1998?

Following the oil price collapse in 1998, Eni, like other major companies, engaged in mergers, international acquisitions, and new exploration efforts to adapt to the changing market landscape and form larger "super-companies."

What major offshore discovery did Eni make in the Caspian Sea starting in 2000?

Starting in 2000, Eni began developing the Kashagan oilfield, a significant offshore discovery located in the Caspian Sea.

What was Eni's involvement with the Blue Stream and South Stream pipelines?

Eni was a joint venture partner with Gazprom in the Blue Stream pipeline, inaugurated in 2005 to supply gas from Russia to Turkey. In 2007, Eni also signed an agreement with Gazprom to conduct a feasibility study for the South Stream pipeline, intended to transport Russian gas to Europe via the Black Sea.

What strategic initiative did Eni launch in 2016 to redevelop its industrial areas?

In 2016, Eni launched "Progetto Italia," an initiative aimed at redeveloping its industrial areas and establishing new renewable energy production plants.

What was Eni's involvement in Mozambique's offshore exploration?

After obtaining a license in 2006 for an offshore area in northern Mozambique (Area 4), Eni announced major natural gas discoveries between 2011 and 2012, including the Mamba South, Mamba North, Mamba North East, and Coral 1 fields.

How has Eni been converting its conventional refineries?

Since 2014, Eni has been implementing a plan to convert its conventional refineries into biorefineries. The first such plant was established in Porto Marghera, followed by another in Gela in 2019.

What significant gasfield discovery did Eni announce off the coast of Egypt in August 2015?

In August 2015, Eni announced the discovery of a massive gasfield located off the coast of Egypt.

What is the purpose of Eni's HPC supercomputers, and how has their capability evolved?

Eni's HPC supercomputers, such as HPC4 and HPC5, are designed to facilitate more effective and faster exploration of oil and gas reservoirs. The company has progressively upgraded these systems, with HPC5 offering three times the computing ability of HPC4 and debuting as one of the world's most powerful supercomputers. In November 2024, HPC6 was launched as the most powerful in Europe.

What is Eni's investment in fusion research, and with which institution?

Eni has invested in fusion research, notably partnering with the Massachusetts Institute of Technology (MIT) starting in March 2018 to fund research projects at MIT's Plasma Science and Fusion Center. This included a significant investment in Commonwealth Fusion Systems (CFS), an MIT spin-out.

What was Eni's response to the Russian invasion of Ukraine in 2022 regarding gas payments?

In response to the Russian invasion of Ukraine and related sanctions, Eni announced procedures in May 2022 to create accounts with Gazprombank in dual currency (euro and rubles) to facilitate payments for Russian gas supplies, following contract amendments ordered by the Russian Federation. This was done in agreement with the Italian government and was confirmed not to violate existing sanctions.

What is Eni's role in Qatar's North Field East expansion project?

Eni signed a joint venture with QatarEnergy in June 2022 for the North Field East expansion, which is the world's largest LNG project. Eni holds a 3.125% stake in the project, which is expected to produce 8 million tonnes per year from each of its four LNG trains.

What was the outcome of the corruption trial involving Eni and Royal Dutch Shell concerning a Nigerian oil field?

Eni and Royal Dutch Shell stood trial in Italy over allegations of corruption related to the 2011 purchase of the OPL 245 oil field in Nigeria, with allegations of $1.3 billion in bribes. In March 2021, an Italian court acquitted Eni, its CEO Claudio Descalzi, and Shell. The Nigerian government expressed disappointment, and the acquittals were later finalized in July 2022.

What legal issue arose concerning prosecutors in the Eni-Nigeria trial in October 2024?

In October 2024, two Italian prosecutors involved in the Eni-Nigeria trial were sentenced to eight months in prison by the Court of Brescia for omitting evidence deemed favorable to the defendants.

How has Eni been recognized for its sustainability efforts?

Eni has been included in the Carbon Performance Leadership Index, recognized among the top companies for sustainability score by the World Business Council for Sustainable Development (WBCSD), and identified by Carbon Tracker Initiative as having ambitious absolute emissions reduction targets aligned with the Paris Agreement. Eni also joined IRENA in a partnership to promote renewable energy.

What are some of Eni's key subsidiaries and their primary activities?

Key subsidiaries include Eni Plenitude (marketing gas and power, renewable energy, EV charging), Versalis (chemical company focusing on petrochemicals and green chemistry), Saipem (oil & gas engineering, construction, drilling), Enilive (sustainable mobility), and Eni Rewind (environmental rehabilitation).

What is the significance of Versalis within Eni's operations?

Versalis is Eni's wholly-owned chemical company, managing the production and marketing of petrochemical products like olefins, aromatics, base chemicals, styrenes, elastomers, and polyethylene. It also focuses on green chemistry and utilizes proprietary technologies.

What is Saipem's role within the Eni group?

Saipem is a subsidiary of Eni that operates in engineering, construction, and drilling for the oil and gas industry, both offshore and onshore. It is listed on the Italian Stock Exchange.

What were Eni's reported hydrocarbon production figures for 2022 and 2024?

In 2022, Eni reported hydrocarbon production of 1,610 kboe/d. In 2024, this figure increased to 1,700 kboe/d.

What were Eni's reported natural gas sales figures for 2022 and 2024?

In 2022, Eni reported worldwide sales of natural gas at 60.52 billion cubic meters (bcm). By 2024, this figure was reported as 50.88 bcm.

Where are Eni's power generation sites located in Italy?

Eni's power generation sites in Italy are located in Bolgiano, Brindisi, Ferrara, Ferrera Erbognone, Mantua, Ravenna, Taranto, and Livorno.

What market share did Eni hold in refining and marketing in Italy and other European countries in 2019?

In 2019, Eni held a 23.7% market share in refining and marketing in Italy. Its market share in other European countries included 12.3% in Austria, 7.7% in Switzerland, 3.2% in Germany, and 0.6% in France.

What is the purpose of Eni's "Progetto Italia"?

Eni's "Progetto Italia," launched in 2016, aims to redevelop its industrial areas and establish new renewable energy production plants.

What were the outcomes of the antitrust charges filed against Eni by the European Commission in 2009?

In 2009, the European Commission filed formal antitrust charges against Eni, believing the company conspired to prevent competitors from accessing its gas pipelines. The text does not detail the final outcome of these charges.

What acquisition did Eni complete in January 2024 for $4.9 billion?

In January 2024, Eni acquired Neptune Energy for $4.9 billion. This acquisition included Neptune's involvement in fields in Indonesia, Western Europe, Australia, and North Africa, though Neptune's Norwegian assets were purchased separately by Vår Energi, a subsidiary of Eni.

What is Eni's involvement with Vår Energi?

Vår Energi is a subsidiary of Eni. In January 2024, Vår Energi directly purchased Neptune Energy's assets in Norway as part of Eni's larger acquisition of Neptune Energy. Vår Energi also extended its natural gas supply deal with Eni until 2036.

What is Eni's planned return to Formula One?

Eni announced its return to Formula One starting with the 2025 season, by supplying fuels to the BWT Alpine F1 Team.

What was Eni's total assets figure reported for 2024?

Eni reported total assets of €146.9 billion for the year 2024.

What was Eni's net income reported for 2024?

Eni reported a net income of €2.62 billion for the year 2024.

What is the significance of Eni's HPC6 supercomputer?

Launched in November 2024, Eni's HPC6 supercomputer is the most powerful in Europe and the fifth most powerful globally, capable of executing over 600 million billion complex mathematical operations per second.

What did Eni announce in March 2021 regarding its operations in Pakistan?

In March 2021, Eni exited the Pakistani market, selling its assets, which included interests in eight development and production leases and four exploration licenses, to Prime International Oil & Gas Company, a joint venture involving former Eni Pakistan employees and Hub Power Company.

What is Enilive's role within the Eni group?

Enilive, formerly Eni Sustainable Mobility SpA, is a company within the Eni group dedicated to sustainable mobility and the supply of decarbonized services and products.

What legal issues did Eni face in Uganda in 2009, according to leaked diplomatic cables?

According to leaked diplomatic cables from 2009, US ambassador Lanier reported bribery allegations made in Uganda by Eni, which was competing for oil assets against Tullow Oil. These bribes were allegedly received by the then-newly appointed Ugandan prime minister, Amama Mbabazi.

Eni Wiki: Eni: Charting the Energy Landscape

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About Eni

Italian Energy Giant

Eni S.p.A. is an Italian multinational energy company headquartered in Rome. It is recognized as one of the world's "supermajor" oil companies, with a significant global market capitalization and operational footprint.

Global Operations

Eni operates worldwide, engaging in exploration, production, refining, marketing, and distribution of petroleum and natural gas. Its extensive network serves millions of customers across Italy and Europe.

State Influence

The Italian government holds a substantial stake in Eni, comprising a 30.5% share. This includes direct ownership through the Ministry of Economy and Finance and indirect ownership via Cassa Depositi e Prestiti, reflecting its strategic national importance.

A Legacy of Energy

Foundation and Early Years (1950s-1960s)

Established in 1953, Eni emerged from Agip, a company founded in 1926. Under the leadership of Enrico Mattei, Eni quickly expanded its exploration rights in North Africa and signed groundbreaking agreements with producing nations, fostering a model of equal partnership. The iconic six-legged dog logo was adopted during this formative period.

Navigating Crises and Expansion (1970s-1980s)

Eni played a crucial role during the oil crises of the 1970s, securing natural gas supplies through agreements with Algeria and the Soviet Union. The company also developed extensive pipeline infrastructure across the Mediterranean and Europe, solidifying its international presence.

Privatization and Global Markets (1990s)

The 1990s marked a significant transformation as Eni transitioned into a joint-stock company and was listed on the Italian and New York Stock Exchanges. This period saw substantial privatization efforts, with a significant portion of its capital assets sold to private shareholders.

Modern Era and Innovation (2000s-Present)

The 21st century has seen Eni engage in major projects like the Kashagan field and the Blue Stream pipeline. The company has embraced technological advancements, including supercomputing for reservoir analysis, invested in fusion energy research, and adapted to global energy transitions, including a focus on biorefineries and renewable energy sources.

Core Operations

Exploration & Production

Eni is deeply involved in the exploration and production of oil and natural gas across diverse global regions, including Africa, Venezuela, the Barents Sea, and the Caspian Sea. The company manages a vast portfolio of exploration and production subsidiaries, consistently working to discover and develop new hydrocarbon reserves.

Gas & Power

The company is a major player in the natural gas market, reporting significant sales volumes annually. Eni operates numerous power generation sites across Italy, utilizing natural gas to supply electricity and steam, contributing substantially to the national energy infrastructure.

Refining & Marketing

Eni holds a leading position in the refining and marketing of petroleum products within Italy and maintains a strong presence in Central-Eastern European markets. The company is actively transforming its refineries into biorefineries, emphasizing sustainable mobility and the production of bio-based fuels.

Engineering & Construction

Through its subsidiary Saipem, Eni provides comprehensive engineering, construction, and drilling services for the global oil and gas industry. This includes complex offshore and onshore projects, pipeline construction, and advanced subsea technologies.

Key Subsidiaries

Eni Plenitude

Focuses on the marketing of natural gas and electricity, renewable energy production, and the development of charging infrastructure for electric vehicles, aligning with Eni's broader energy transition strategy.

Saipem

A global leader in engineering, drilling, and construction services for the energy industry, operating both offshore and onshore. Saipem is instrumental in executing large-scale infrastructure projects worldwide.

Versalis

Eni's chemical company, Versalis, specializes in petrochemicals, including base chemicals, polymers, and elastomers. It is increasingly focusing on green chemistry and sustainable materials.

Enilive

Dedicated to sustainable mobility, Enilive provides decarbonized services and products, including biofuels and advanced chemical solutions derived from renewable sources.

Commitment to Sustainability

Environmental Leadership

Eni has been recognized for its commitment to transparency and environmental leadership, being included in indices like the Carbon Performance Leadership Index. The company is actively developing biorefineries and photovoltaic plants to increase its production of bio and green energy.

Emissions Reduction

Aligned with the goals of the Paris Agreement, Eni has set ambitious targets for absolute greenhouse gas emissions reduction. It is recognized as a leader among oil companies for its commitment to lowering emissions and increasing renewable energy output.

Strategic Partnerships

Eni collaborates with international organizations like the International Renewable Energy Agency (IRENA) to promote renewable energy deployment. Its investments in fusion energy research with institutions like MIT underscore a forward-looking approach to sustainable energy solutions.

Financial Performance

Key Financial Metrics

Eni's financial performance reflects its scale and market position. The company consistently reports substantial revenues and assets, demonstrating its significant economic impact. Recent figures highlight its resilience and strategic financial management.

Financial Data (in € billions)
Year	2022	2023	2024
Revenue	132.512	93.72	88.80
Net Income	13.887	4.771	2.62
Total Assets	152.130	142.606	146.939
Employees	32,188	33,142	32,492

Legal and Regulatory Landscape

Regulatory Scrutiny

Like many major corporations, Eni has faced regulatory scrutiny. This has included antitrust investigations by the European Commission regarding access to gas pipelines and allegations of corruption in international operations, particularly concerning asset acquisitions in countries like Uganda and Nigeria. While some allegations led to legal proceedings, Eni and its subsidiaries have seen acquittals in key cases, such as the Nigerian OPL 245 trial.

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References

By virtue of law of 10 February 1953 no. 136

A full list of references for this article are available at the Eni Wikipedia page

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Eni: Charting the Energy Landscape

💡 Dive in with Flashcard Learning! 💡

About Eni 🏢

🇮🇹 Italian Energy Giant

🌍 Global Operations

🏛️ State Influence

A Legacy of Energy ⏳

1️⃣ Foundation and Early Years (1950s-1960s)

2️⃣ Navigating Crises and Expansion (1970s-1980s)

3️⃣ Privatization and Global Markets (1990s)

4️⃣ Modern Era and Innovation (2000s-Present)

Core Operations ⚙️

🌍 Exploration & Production

⚡ Gas & Power

🏭 Refining & Marketing

🏗️ Engineering & Construction

Key Subsidiaries 🧩

💡 Eni Plenitude

🏗️ Saipem

🧪 Versalis

🌱 Enilive

Commitment to Sustainability 🌱

📊 Environmental Leadership

🎯 Emissions Reduction

🤝 Strategic Partnerships

Financial Performance 💰

📈 Key Financial Metrics

Legal and Regulatory Landscape ⚖️

⚖️ Regulatory Scrutiny

Teacher's Corner 🧑‍🏫

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References

📜 References

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Disclaimer ⚠️

📜 Important Notice

Dive in with Flashcard Learning!

About Eni

Italian Energy Giant

Global Operations

State Influence

A Legacy of Energy

Foundation and Early Years (1950s-1960s)

Navigating Crises and Expansion (1970s-1980s)

Privatization and Global Markets (1990s)

Modern Era and Innovation (2000s-Present)

Core Operations

Exploration & Production

Gas & Power

Refining & Marketing

Engineering & Construction

Key Subsidiaries

Eni Plenitude

Saipem

Versalis

Enilive

Commitment to Sustainability

Environmental Leadership

Emissions Reduction

Strategic Partnerships

Financial Performance

Key Financial Metrics

Legal and Regulatory Landscape

Regulatory Scrutiny

Teacher's Corner

True or False?

Test Your Knowledge!

Gamer's Corner

Discover other topics to study!

References

Feedback & Support

Disclaimer

Important Notice