| Type | Società per azioni |
|---|---|
| Traded as | BIT: ENI, NYSE: E |
| Industry | Petroleum industry |
| Founded | 10 February 1953 |
| Headquarters | Rome, Italy |
| Area served | Worldwide |
| Key people | Giuseppe Recchi (Chairman), Paolo Scaroni (CEO) |
| Products | Oil and natural gas exploration, production, refining and marketing, electricity generation, oil and gas engineering and construction |
| Revenue | €99.48 billion (2010)[1] |
| Operating income | €16.11 billion (2010)[1] |
| Profit | €6.318 billion (2010)[1] |
| Total assets | €131.86 billion (end 2010)[1] |
| Total equity | €55.73 billion (end 2010)[1] |
| Employees | 79,940 (end 2010)[1] |
| Subsidiaries | AGI, Agip, Distrigas, Italgas, Polimeri Europa, Saipem (43%), Snam Rete Gas (50%), Syndial, |
| Website | www.eni.it |
Eni S.p.A. (BIT: ENI, NYSE: E) is an Italian multinational oil and gas company, present in 70 countries, and currently Italy's largest industrial company with a market capitalization of 87.7 billion euros (US$138 billion), as of July 24, 2008.[2] The Italian government owns a 30% golden share in the company, 20% held through the state Treasury and 10% held through the Cassa depositi e prestiti.
Contents |
Despite initial postwar plans to break up Agip, administrator Enrico Mattei converted it to a state monopoly, renamed Eni. The name derives from the initials of the company's original full title Ente Nazionale Idrocarburi, but is no longer used as an acronym. It was also known as United Refineries at around this time on the odd occasion. The Italian Government authorized its establishment on February 10, 1953 in order to implement a national energy strategy based on the concentration of all the activities in the energy sector into one group. Eni was to supply energy to Italy and contribute to the country's industrial development.
The head of Eni, Mattei, a center left politician, had developed cooperation with communist countries, and the import of oil from the Soviet Union became an important part of Eni's operations. At the same time, Eni was involved in a series of high profile political corruption scandals.
In the 1960s, Eni was to build an oil refinery on Canvey Island, Essex, England, although this never went into construction due to heavy protests.
Its crude oil production comes primarily from Libya, Egypt, Nigeria, the Congo, the North Sea, and Angola, with smaller amounts of crude oil production in Tunisia and in the United States. Eni's China production began in 1992, although it currently amounts to only 1 percent of Eni's total crude oil production.
In 2007, oil and natural gas production for the full year averaged 1.74 millions boe per day, making Eni Europe's third largest refiner, after Royal Dutch Shell and Total S.A..
Eni carried out several hydrocarbon discoveries in recent years; the main discoveries were made in: Angola, Brazil, Congo, Egypt, Indonesia, Nigeria, Norway, Pakistan, Scotland, the Gulf of Mexico and Alaska. In 2007, a total of 81 new exploratory wells were drilled (43.5 of which represented Eni's share). Moreover, the company acquired oil and gas assets in the Gulf of Mexico from Dominion Resources and in onshore Congo from Maurel & Prom with total expenditures amounting to €4.52 billion.
In January 2010 a consortium led by Eni was awarded a license to develop the Zubair field, one of the largest oil fields in Iraq.[3]
Eni operates in the supply, transport, distribution and sale of natural gas. Gas sales reached 99 billion cubic meters in 2007. In June 2008 the company bought a 57% stake in Distrigas, a Belgian company that supplies natural gas to industries, resellers and electricity producers.[4] In March 2009 it bought the remaining 43%.[5]
In December 2010, Eni entered into the shale gas exploration market by acquiring Minsk Energy Resources owning three licences in the Polish Baltic basin.[6]
Eni's electricity generation sites in Italy, as of January 2010, are the following:
Eni operates in engineering, oilfield services and construction both offshore and onshore through Saipem, a subsidiary listed on the Italian Stock Exchange (Eni's interest is 43%).
Activist asset manager Knight Vinke, which owns 1% of the outstanding shares of the company, in October 2009 has begun pressing 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.[7]
The Central Energy Italian Gas Holding scandal in 2005 involved Eni and Gazprom [8]
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.[9]
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. [10]
|
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||