ENI

An Italian multinational energy company headquartered in Rome.

Categories

Energy and Utilities  

#337

Rank

$49.89B

MarketCap IT

IT Italy

Country

Summary

Eni is an Italian multinational energy company headquartered in Rome, Italy. The company was founded in 1953 and is engaged in oil and natural gas exploration, field development and production, as well as in the supply, trading, and shipping of natural gas, LNG, electricity, fuels, and chemical products. Eni is one of the world's largest publicly traded oil and gas companies by market capitalization and operates in over 67 countries.

Eni's business strategies, resource allocation processes, and conduct of day-by-day operations underpin the delivery of sustainable value to its shareholders and stakeholders, including its customers, employees, suppliers, and local communities. The company is committed to promoting social and environmental responsibility in the countries where it operates, and it aims to build a future where everyone can access energy resources efficiently and sustainably.

Eni's upstream operations include exploration, development, and production of oil and gas, and the company has a diverse portfolio of assets and operations, including offshore and onshore fields, unconventional resources, and exploration projects. Its midstream operations include transportation and storage of oil and gas, while its downstream operations include refining, marketing, and distribution of petroleum products. The company is also involved in renewable energy projects and is dedicated to reducing its environmental impact through sustainable practices.

Eni's commitment to sustainability and reducing its environmental impact is reflected in its goals to reduce greenhouse gas emissions and invest in renewable energy projects. The company has set a target to achieve net-zero emissions by 2050 and has made significant investments in renewable energy sources such as solar, wind, and biofuels. Eni has also established partnerships with governments, research institutions, and other companies to develop innovative solutions for a more sustainable energy future.


History

Eni, the Italian multinational oil and gas company, has a rich history dating back to 1926. The company's origins can be traced to the establishment of AGIP (Azienda Generale Italiana Petroli) in 1926 by the Italian government to promote the development of the country's oil and gas industry.

AGIP went on to play a key role in the country's post-war reconstruction efforts, and in 1953, the company was renamed Eni (Ente Nazionale Idrocarburi) and given authorization by the Italian government to explore, extract and market oil and gas in Libya. This marked the beginning of Eni's international expansion and led to the discovery of significant oil reserves in Libya.

Enrico Mattei was appointed CEO of AGIP in 1936, and he played a pivotal role in the development of Italy's energy industry. Under his leadership, AGIP expanded its operations and became a major player in the global energy market.

Throughout the 1950s and 1960s, Eni continued to expand its operations around the world, with significant discoveries in Kazakhstan, Algeria, and Italy. In 1971, Eni installed the first producing platform at Val d'Agri, an oil field in southern Italy, which helped to boost the country's energy industry.

Eni continued to grow and expand its operations in the global energy market, acquiring the natural gas and energy business of German Ruhrgas in 2006, which strengthened its position in the European energy market. In 2009, Eni reached the milestone of 10.1 billion barrels of oil equivalent (boe) of total proven and developed reserves, reflecting its success in discovering and developing new reserves around the world.

In recent years, Eni has focused on sustainability, innovation, and exploration, launching the Green Data Center, the world's first data center to rely solely on renewable energy sources, and discovering a large natural gas field off the coast of Mozambique. The company also announced a sustainability plan in 2015 aimed at reducing the company's greenhouse gas emissions by 43% by 2025.

Eni has faced challenges along the way, including corruption allegations in Nigeria in 2014, which led to the company paying a $1.3 billion settlement to the Nigerian government. However, Eni has remained committed to its mission of delivering sustainable value to its shareholders and stakeholders, respecting the countries where the company operates and the people who work for and with Eni. Today, Eni is a major player in the global energy market, with operations in 73 countries and over 33,000 employees at the end of 2018.


Mission

As stated in company website, ENI mission is: “to create a future in which everyone can access energy resources in an efficient and sustainable way".

ENI's mission is to be a leader in the energy industry and to create a sustainable future by providing efficient and sustainable energy resources to everyone. To achieve this mission, ENI is committed to investing in research and development, exploring new energy sources, and developing innovative technologies that can improve energy efficiency and reduce environmental impact.

ENI aims to build a sustainable future where everyone can access energy resources in a way that respects the environment and contributes to social and economic development. The company is committed to conducting its operations in a responsible and sustainable manner, and to creating long-term value for its shareholders, employees, and stakeholders.

ENI is also committed to reducing its environmental impact and to addressing climate change. The company has set ambitious targets to reduce greenhouse gas emissions and to increase the share of renewable energy in its energy mix. ENI is also investing in carbon capture and storage (CCS) technologies and in developing renewable energy sources, such as wind and solar power.


Vision

According to ENI, the company vision is: "to provide products, services and solutions of the highest quality and deliver more value to customers that earns their respect and loyalty".

It is worth noting that ENI's vision is not only focused on providing high-quality products and services but also on earning the respect and loyalty of their customers. This reflects the company's commitment to building strong relationships with its customers by delivering solutions that meet their needs while also prioritizing sustainability and efficiency.

In line with its mission and vision, ENI has set several strategic objectives. The company aims to maintain a balanced portfolio of upstream and downstream activities, invest in innovation and technology to increase efficiency and sustainability, and build long-term partnerships with its stakeholders.

ENI also has a strong commitment to sustainability and aims to reduce its carbon footprint through various initiatives. The company has set a target of reducing its net greenhouse gas emissions by 80% by 2050 and is investing in renewable energy projects, such as wind and solar power.

Furthermore, ENI's vision extends beyond its business operations. The company is actively involved in promoting social and economic development in the countries where it operates. ENI works to create local job opportunities, support education and health programs, and promote sustainable development initiatives in partnership with local communities.


Key Team

Erika Mandraffino (Board Member)

Claudio Granata (Chief Services & Stakeholder Relations Officer)

Filippo Giansante (Board Member)

Cristian Signoretto (Deputy Chief Operating Officer Natural Resources)

Francesca Zarri (Board Member)

Emanuele Piccinno (Board Member)

Gianfranco Cariola (Board Member)

Erika Mandraffino (Board Member)

Grazia Fimiani (Board Member)

Filippo Giansante (Board Member)

Jadran Trevisan (Board Member)

Francesca Zarri (Board Member)

Karina A. Litvack (Board Member)

Francesco Gattei (Chief Financial Officer)

Lapo Pistelli (Board Member)

Enrico Mattei (Founder)

Claudio Granata (Chief Services & Stakeholder Relations Officer)

Emanuele Piccinno (Board Member)


Recognition and Awards
FT ArcelorMittal Boldness in Business Award (2020): ENI won this award in the "Environmental, Social, and Governance" category for its commitment to carbon neutrality by 2050. Platts Global Energy Awards (2019): ENI won the "Corporate Award" for its long-term commitment to sustainability and for its leadership in developing new technologies. Oil and Gas Council Awards (2019): ENI won the "Energy Company of the Year" award for its innovative projects and commitment to the energy transition. CDP Climate Change A-List (2019): ENI was included in the CDP Climate Change A-List for its leading efforts to mitigate climate change and reduce carbon emissions. S&P Global Platts Top 250 Global Energy Company Rankings (2019): ENI was ranked among the top 10 global energy companies for its financial performance and strategic vision. International Association of Oil & Gas Producers (IOGP) Outstanding Young Professional Award (2018): An ENI employee won this award for his contribution to improving safety and environmental performance in the industry. Global CSR Awards (2017): ENI won the "Environmental Excellence" award for its efforts to reduce greenhouse gas emissions and promote sustainable development. Edison Award (2016): ENI won this award for its "Green Refinery" project, which uses renewable energy sources to power a refinery in Venice, Italy. European Association of Corporate Treasurers (EACT) Award (2016): ENI won the "Treasury Transformation" award for its innovative treasury management practices. Dow Jones Sustainability World Index (2015-2021): ENI has been included in the Dow Jones Sustainability World Index for several years in a row, recognizing its sustainable business practices and social responsibility.

Products and Services

Exploration and Production: ENI explores and produces oil and gas in various countries worldwide.

Refining and Marketing: ENI refines crude oil and markets refined products such as gasoline, diesel, and heating oil. ENI operates refineries in Italy, Germany, and other countries.

Chemicals: ENI produces a wide range of petrochemical products, including plastics, resins, and rubber.

Renewable Energy: ENI is investing in renewable energy sources such as solar, wind, and biofuels.

Engineering and Construction: ENI provides engineering and construction services for oil and gas projects.

Gas and Power: ENI is a major producer and supplier of natural gas, and also operates power plants that produce electricity from gas.

Trading and Shipping: ENI is involved in the trading and shipping of oil and gas products worldwide.

Research and Development: ENI invests in research and development to improve its products and operations and to develop new technologies.

Lubricants: ENI produces a range of lubricants for automotive and industrial use.

Aviation: ENI provides aviation fuels and related services for commercial and private aviation.

Digital Solutions: ENI is developing digital solutions and services to improve its operations and support its customers.


References
ENI
Leadership team

Enrico Mattei (Founder)

Alessandro Puliti (Chief Operating Officer Natural Resources)

Industries

Energy and Utilities

Products/ Services
Petroleum, natural gas, petroleum products
Number of Employees
20,000 - 50,000
Headquarters
Rome, Lazio, Italy
Established
1953
Company Type
Public Limited Company
Company Registration
SEC CIK number: 0001002242
Net Income
Above - 20B
Revenue
Above - 1B
Traded as
E
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Sun Mar 03 2024
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