Eni S.p.A. (Italian pronunciation: [ˈɛːni]) is an Italian multinational oil and gas company headquartered in Rome. Considered one of the global supermajors, it has operations in 79 countries, and is currently world's 11th largest industrial company with a market capitalization of 68 billion euros (US$ 90 billion), as of August 14, 2013. The Italian government owns a 30.303% golden share in the company, 3.934% held through the state Treasury and 26.369% held through the Cassa Depositi e Prestiti. Another 2.012% of the shares are held by the People's Bank of China. The company is a component of the Euro Stoxx 50 stock market index.
The name "ENI" was initially the acronym of "Ente Nazionale Idrocarburi" (National Hydrocarbons Authority). Through the years after its foundation however, it operated in a large number of fields including contracting, nuclear power, energy, mining, chemicals and plastics, refining/extraction and distribution machinery, hospitality industry and even textile industry and news.
Eni constantly ranks among the top 100 on Fortune Global 500 list for largest companies by revenue. In 2016, the company holds the 65th place, a fall of 40 places from the previous year's 25th rank.
In terms of share capitalisation (the market value of shares), Eni is ranked eighth in comparison with the principal companies operating in the same sector: Exxon, Shell, Chevron, Total, BP, ConocoPhillips, Equinor, Anadarko, Apache and Marathon Oil.
|Traded as||BIT: ENI|
FTSE MIB Component
|Industry||Oil and gas|
|Founded||February 10, 1953|
|Emma Marcegaglia (Chairman)|
Claudio Descalzi (CEO)
|Revenue||€76.938 billion (2018)|
|€9.983 billion (2018)|
|€4.126 billion (2018)|
|Total assets||€118.373 billion (2018)|
|Total equity||€51.016 billion (2018)|
Number of employees
|Subsidiaries||Eni Gas & Power, Saipem, Syndial, EniProgetti, Versalis|
Eni was founded and established by law in 1953 from an existing company, Agip, which was created in 1926 with the aim to explore for oilfields, acquire and commercialize oil and derivatives. In March 1953, Enrico Mattei was nominated Eni's Chairman.
Eni originally was an acronym for the company's full title Ente Nazionale Idrocarburi (National Hydrocarbons Authority). After 1995, the meaning ceased to be relevant but the name was maintained. In 1952 Eni adopted its logo, a six-legged dog, an imaginary animal symbolizing the sum of a car's four wheels and the two legs of its driver.
Starting in 1954, Eni acquired extensive exploration rights in North Africa, signing an agreement with the Egyptian government led by Nasser while providing an active and equal role for the crude producing countries through the establishment of joint ventures. In 1957 Eni pushed for a similar agreement, known as the "Mattei formula", to be signed with Persian Shah Mohammad Reza Pahlavi and the National Iranian Oil Company. In 1960, during the Cold War period, Eni signed an agreement with the Soviet Union for the importation of Russian crude at low prices.
On 27 October 1962, Enrico Mattei's airplane mysteriously exploded near Bascapè, on his way to Milan from Catania. His death was initially considered an accident, but later it was confirmed to be a murder with the aim to protect and hide important economical and political interests in Italy and especially abroad, as it is clearly stated in the records of the trial on the assassination of the journalist Mauro De Mauro, who was investigating on the death of Enrico Mattei.
During the following years, Eni signed joint venture contracts with foreign companies to supply crude from Egypt to Iran and from Libya to Tunisia. In 1963, Eni acquired a majority stake in Italgas.
In October 1973 after the Yom Kippur War and the OPEC embargo against the United States and the Netherlands by OPEC members and Arab countries, a serious his oil crisis occurred, causing Eni to consolidate its position in the international market by signing an agreement with Sonatrach, the Algerian state oil entity for natural gas supply.
During the mid-1970s, Eni planned a major infrastructure for transporting natural gas over long distances, by building a pipeline network of thousands of miles throughout Europe and the Mediterranean.
After the inauguration of the Trans-Mediterranean Pipeline connecting Algeria to Sicily through Tunisia, Eni signs a new agreement with Libya for the exploitation of Boùri, the biggest oilfield in the centre of the Mediterranean, and develops its international role within the oil industry.
As the price of oil collapsed in 1998 as other major companies Eni got to turn into a race through merges, international acquisitions, new explorations and the foundation of real super-companies.
Activist asset manager Knight Vinke, who owns 1% of the outstanding shares of the company, begun pressuring Eni's management to operate a spin-off of Eni's gas activities. In its opinion this would solve the undervaluation of the company and release up to 50 billion euros ($70bn) of hidden value.
After getting a licence in 2006 for the exploration of an offshore area in the north of Mozambique, known as Area 4, Eni announced several major natural gas discoveries between 2011 and 2012 such as Mamba South, Mamba North, Mamba North East, Coral 1.
In February 2014, ENI discovered oil at its DRC offshore block.
Since 2012 Eni has been selling off refining and marketing assets it owned in eastern Europe in order to increase profitability. By 2013 Eni already reduced its refining capacity by 13 percent. In May 2014 Eni agreed to sell their 32.5% share in Česká rafinerská a.s. (CRC), a refining company in Czech Republic, to MOL Group of Hungary.
In January 2015, Eni in collaboration with Vitol Energy signed a $7 billion contract with the government of Ghana. This agreement was reached in order to produce oil and gas at Cape Three Points in the Western Region of Ghana, in an attempt to enable Ghana to meet its power and energy needs.
In August 2015 Eni announced the discovery of a huge gasfield off the coast of Egypt.
In March 2018, Eni reached an agreement with MIT to fund fusion research projects run out of the MIT Plasma Science and Fusion Center (PSFC)’s newly created Laboratory for Innovation in Fusion Technologies (LIFT). The expected investment in these research projects will amount to about $2 million over the following years.
As exploration and reserve replacement being major drivers for the company, Eni boosts for production additions in its core oil field areas (North and Sub-Saharan Africa, Venezuela, Barents Sea, Yamal Peninsula, Kazakhstan, Iraq and the Far East). Eni has about 130 exploration and production subsidiaries, such as Eni Norge.
In 2012 Eni reported liquids and gas production for the full year of 1,701 kboe/d, this being calculated assuming a natural gas conversion factor to barrel equivalent, updated to 5,492 cubic feet of gas equal 1 barrel of oil from July 1, 2012.
During 2012 60 new exploratory wells were drilled, as 56 were drilled in 2011 and 47 in 2010. The overall commercial success rate was 40% (40.8% net to Eni) as compared to 42% in 2011 (38.6% net to Eni) and 41% in 2010 (39% net to Eni). In 2012 351 development wells were drilled as well, as 407 in 2011 and 399 in 2010.
Eni's power generation sites are located in Ferrera Erbognone, Ravenna, Livorno, Taranto, Mantova, Brindisi, Ferrara and Bolgiano. In 2012, Eni's power generation was 25.67 TWh.
Overall Eni supplies 2,600 customers including large companies, power generation companies, wholesalers and distributors of natural gas for automotive use. Residential users are 7.45 million and include households, professionals, small and medium size enterprises, and public bodies located all over Italy and 2.09 million customers in European Countries. International sales include Iberian Peninsula, Germany, Austria, Benelux, Hungary, UK/Northern Europe, Turkey, France markets.
Eni's electricity generation sites in Italy, as of January 2010, are the following:
Eni is the leader operator in refining and marketing of petroleum products in Italy.
Eni is engaged in retail and wholesales activities in Central-Eastern European countries also (Austria, France, Germany, Italy, Czech Republic, Romania, Slovakia, Slovenia, Switzerland, Hungary).
Retail sales operations are conducted under the Eni and Agip brands. The re-branding of Eni's service stations in Italy and in the rest of Europe to Eni brand is underway.
In April 2012, Eni in collaboration with ZEiTECS announced the world's first offshore rigless/wireline retrievable ESP system for Eni Congo.
Eni's principal subsidiaries include:
In 2009, the European Commission filed formal antitrust charges against Eni. The commission believes that Eni has conspired to keep competitors from using its gas pipelines.
In 2009 again, according to the WikiLeaks cables, US ambassador Lanier told Washington that bribery allegations were made in Uganda by Eni which at the time was in competition for oil assets in the country against Tullow Oil. The bribes were taken by the newly appointed Ugandan prime minister, Amama Mbabazi.
After corruption charges against the subsidiary Saipem, Eni's CFO Alessandro Bernini had to resign and the new CFO Massimo Mondazzi took over in December 2012.
Eni and Royal Dutch Shell will stand trial in Italy over allegations of corruption in the 2011 purchase of a big offshore oil field in Nigeria known as OPL 245. Eni and Shell reportedly paid $1.3 billion in bribes.
Jordan Engel has listed the company among the top-100 companies killing the planet; these are the companies responsible for the 100 biggest contributions to Global Warming, responsible for more than 70% of the world’s greenhouse gas emissions since 1988.
In 2013 Eni continued its commitment to integrated reporting, preparing the Annual Report 2013 in accordance with the principles and contents of the integrated reporting (IR) framework issued by the International Integrated Reporting Council (IIRC).
Among the UN Sustainable Development Solution Network (SDSN), in 2013 Eni led the Energy For All in Sub-Saharan Africa initiative through international collaborations aimed at devising solutions to fight against energy poverty, in particular in Sub-Saharan Africa.
In 2013 Eni's commitment continued in ensuring access of local communities to energy, particularly in Sub-Saharan Africa.
Eni has been ranked as the 11th best of 92 oil, gas, and mining companies on indigenous rights in the Arctic.
The Board of Directors is comprised as follows as of January 2019:
Emma Marcegaglia, Chairman of Eni S.p.a.
Claudio Descalzi, current CEO of Eni
Andrea Gemma, law professor at Roma Tre University
Pietro Guindani, former CEO and CFO of Vodafone Italy
Karina Litvack, former Director of Ethics and Corporate Governance for F&C Asset Management
Alessandro Lorenzi, former Vice President of Planning and Control at Ferrero SpA, former CFO of Coin Group, former CCO for Lavazza
Diva Moriani, current CEO of KME Vorstand
Fabrizio Pagani, current Secretary of Technology for Ministry of Economy and Finance (Italy), former OECD senior advisor and head of G8/G20 office
Domenico Livio Trombone
A series of capacity reductions in its Italian refining business over the last 3 years contributed a 13% reduction in the company's global refining capacity in 2013, according to Eni.CS1 maint: Extra text: authors list (link)
The United States House of Representatives election in American Samoa, which will contest American Samoa lone At-large congressional district, was held on November 2, 2010. The non-voting delegate to the United States House of Representatives is elected for two-year terms; whoever is elected will serve in the 112th Congress from January 3, 2011 until January 3, 2013.
Incumbent Eni Faleomavaega of the Democratic Party has held the seat since 1989.Agip
Agip (Azienda Generale Italiana Petroli—General Italian Oil Company) is an Italian former automotive gasoline, diesel, LPG, lubricants, fuel oil, and bitumen retailer established in 1926. It has been a subsidiary of the multinational petroleum company Eni. In 2003, Eni acquired Agip Petroli S.p.A., creating the Refining and Marketing Division (R&M).Bengkulu language
Bengkulu is a Malayic language spoken on the Indonesian island of Sumatra, around the city of Bengkulu. It is more closely related to other Malay variants in Sumatra such as Col, Jambi Malay and Palembang Malay as well Minangkabau spoken in neighbouring West Sumatra than to Rejangese language, which is also spoken in the province.Blue Stream
Blue Stream is a major trans-Black Sea gas pipeline that carries natural gas from Russia into Turkey. The pipeline has been constructed by the Blue Stream Pipeline B.V., the Netherlands based joint venture of Russian Gazprom and Italian Eni. The Blue Stream Pipeline B.V. is an owner of the subsea section of pipeline, including Beregovaya compressor station, while Gazprom owns and operates the Russian land section of the pipeline and the Turkish land section is owned and operated by the Turkish energy company BOTAŞ. According to Gazprom the pipeline was built with the intent of diversifying Russian gas delivery routes to Turkey and avoiding third countries.E.N.I. (band)
E.N.I. is Croatian pop band from Rijeka.
Like the Rijeka group Put four years earlier, E.N.I. was created out of Putokazi in order to compete in at the Eurovision Song Contest 1997 with the song "Probudi me".
Unlike most of Eurovision contenders who later sank into obscurity, E.N.I. maintained its presence in Croatian music industry due to respectable vocal talents and frequent co-operation with other artists, mainly rock musicians from Rijeka.
In the campaign for 2000 parliamentary elections they, together with many other rock musicians, supported Social Democratic Party of Croatia and other opposition parties. They also appeared at 2004 Zagreb Pride parade and festival.El Nido Airport
El Nido Airport (Hiligaynon: Hulugpaan sang El Nido; Filipino: Paliparan ng El Nido) (IATA: ENI), also known as Lio Airport, is an airport serving the general area of El Nido, located in the province of Palawan in the Philippines. It is located in the barangay of Villa Libertad, about 4 kilometres (2 mi) from the poblacion (town proper) of El Nido. This concrete airstrip is owned and operated by AirSWIFT.The gravel runway is now partially coated and used as a taxiway for aircraft.Eni Faleomavaega
Eni Fa'aua'a Hunkin Faleomavaega Jr. (; August 15, 1943 – February 22, 2017) was an American Samoan politician who served as the territory's lieutenant governor and congressional delegate.Enjoy (car sharing)
Enjoy is an Italian car sharing service provided by Eni. Enjoy is active in Milan, Turin, Rome, Florence, Catania and Bologna with a total of more than 2,000 cars.
The system offers exclusively Fiat 500 vehicles with one-way point-to-point rentals charged by the minute. Cars can be rented wherever parked via a smartphone app.Groupe des écoles nationales d’ingénieurs
Groupe des écoles nationales d’ingénieurs (Groupe ENI) is French for "Group of French National Engineering Schools", a network of 4 French public engineering schools that deliver the title of Diplôme d'Ingénieur in a wide variety of fields.List of countries by proven oil reserves
This is a list of countries by proven oil reserves. Proven reserves are those quantities of petroleum which, by analysis of geological and engineering data, can be estimated, with a high degree of confidence, to be commercially recoverable from a given date forward from known reservoirs and under current economic conditions.
Some statistics on this page are disputed and controversial. Different sources (OPEC, CIA World Factbook, oil companies) give different figures. Some of the differences reflect different types of oil included. Different estimates may or may not include oil shale, mined oil sands or natural gas liquids.
Because proven reserves include oil recoverable under current economic conditions, nations may see large increases in proven reserves when known, but previously uneconomic deposits become economic to develop. In this way, Canada's proven reserves increased suddenly in 2003 when the oil sands of Alberta were seen to be economically viable. Similarly, Venezuela's proven reserves jumped in the late 2000s when the heavy oil of the Orinoco was judged economic.List of river cruise ships
This is a list of river cruise ships, both those in service and those that have since ceased to operate. As some river cruise ships have operated under multiple names, all names will be listed in the "Notes" section.Oko language
Oko, also known as Ogori-Magongo and Oko-Eni-Osayen, is a dialect cluster spoken in Nigeria. It appears to form a branch of the "Nupe–Oko–Idoma" (noi) group of Niger–Congo languages. Most Oko speakers also speak Yoruba as a second language. The language is spoken in and around the towns of Ogori and Magongo in southwestern Kogi State, close to the Ondo and Edo state borders.Saipem
Saipem S.p.A. (Società Anonima Italiana Perforazioni E Montaggi) is an Italian oil and gas industry contractor. It was a subsidiary of Italian energy company Eni, which owned approximately 30% of Saipem's shares until 2016. Saipem has been contracted for designing and constructing several pipelines, including Blue Stream, Greenstream, Nord Stream and South Stream.Samsun–Ceyhan pipeline
The Samsun–Ceyhan pipeline (SCP), previously called Trans-Anatolian Pipeline, is a planned crude oil pipeline traversing Turkey from the Black Sea to the Mediterranean oil terminal in Ceyhan. The aim of this project is to provide an alternative route for Russian and Kazakhstani oil and to ease the traffic burden in the Bosphorus and the Dardanelles.Scarabeo 8
Scarabeo 8 is an ultra deepwater 6th generation semi-submersible drilling rig. It is owned and operated by Saipem. The vessel is registered in Nassau, Bahamas.Snam
Snam S.p.A. is an Italian natural gas infrastructure company.
As of 31 December 2017, it had a market capitalization of €13.953 billion.
Snam was originally a subsidiary of Italian energy company Eni.
It has since become an independent company, whose largest shareholder is CDP Reti, a holding company controlled by the Italian state.
The utility operates in Italy and, through associated companies, in Austria, France and the United Kingdom.
Snam is one of Europe's main regulated gas companies - leading Italy in gas transport and storage, while ranking third in regasification.
Its main peers, in the regulated gas and electricity sectors in Italy and in Europe, are:
Terna (Italy): the main grid owner, responsible for high voltage electricity transmission and dispatching nationwide
Enagas (Spain): Technical Manager of the Spanish gas System and the main carrier of natural gas
REE - Red Eléctrica de España (Spain): manages the transmission grid and acts as sole transmission agent; it is also the System Operator
National Grid (UK): operates in the regulated businesses of transmission and distribution of electricity and gas mainly in the UK and northeastern USSouth Stream
South Stream (Russian: Южный поток, Yuzhnyy potok; Bulgarian: Южен поток, Yuzhen potok; Serbian: Јужни ток / Južni tok; Slovene: Južni tok; Hungarian: Déli Áramlat; Italian: Flusso Meridionale) was a pipeline project to transport natural gas of the Russian Federation through the Black Sea to Bulgaria and through Serbia, Hungary and Slovenia further to Austria.
Coincidentally with Russia's annexation of Crimea, after having been seven years in the talks and works with five EU member states, the project was suddenly found in non-compliance with European Union's competition and energy legislation, in particular the Third Energy Package, which stipulates the separation of companies' generation and sale operations from their transmission networks.It was seen as rival to the Nabucco pipeline project, which was abandoned in favor of the Trans Adriatic Pipeline. Unlike South Stream, TAP is fully compliant with EU legislation by way of having obtained EU Third Party Access Exemption.
Construction of the Russian onshore facilities for the South Stream pipeline started in December 2012. The project was cancelled by Russia in December 2014 following obstacles from Bulgaria and the EU, the 2014 Crimean crisis, and the imposition of European sanctions on Russia. The project has been replaced by proposals of Turkish Stream and Tesla pipeline.Yeni-Kale
Yeni-Kale (Ukrainian: Єні-Кале; Russian: Еникале; Turkish: Yenikale; Crimean Tatar: Yeñi Qale, also spelled as Yenikale and Eni-Kale) is a fortress on the shore of Kerch Strait in the city of Kerch.
FTSE MIB companies of Italy