Edoardo Raffinerie Garrone

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ERG S.p.A.
Type Public
Traded as BIT: ERG
Industry Petrochemical
Renewable energy
Founded June 2, 1938 (1938-06-02)
Headquarters Genoa, Italy
Key people Edoardo Garrone (Chairman)
Luca Bettonte(CEO)
Products Refinery products
Electric power
Revenue Increase €6,798 million (2010)[1]
Operating income Decrease €37.842 million (2010)
Net income Increase €10.382 million (2010)[2]
Total assets Decrease €5,293.727 million (2010)
Total equity Decrease €1,891.494 million (2010)
Employees 652 (2011)
Website www.erg.it

ERG (Edoardo Raffinerie Garrone) is a publicly listed Italian energy company, founded in 1938 and based in Genoa, Italy.

History

ERG was founded by Edoardo Guida Garrone in 1938,[3] founding a company for the refining of petroleum. In 1952 signs an agreement to refine the oil on behalf of BP.[4]

During the 1960s and 1970s has started to build some oil refineries and pipelines in Italy, in particular a pipeline in Arquata Scrivia[5] and an oil refinery in Priolo Gargallo (ISAB).[3]

In the 1980s has acquired the petrol stations networks owned by Elf, Chevron and BP in Italy, through ERG Petroli.[3]

Since 1997 the company is listed on the Italian Stock Exchange.[6] In 1999 it opened gas, (petrol), stations network in Spain through ERG Petroleos,[5] sold in 2008 to Saras S.p.A.[7]

In 2008 it signed an agreement with Lukoil, sharing the 49% of oil refinery in Priolo Gargallo.[8][9]

In 2009 it launched its own Mobile virtual network operator: ERG Mobile, becoming the first Italian oil company with its own telecommunications company.[10]

Sponsorship

ERG has been the main sponsor of U.C. Sampdoria, a football club owned by the Garrone family (Riccardo Garrone was the President, with Edoardo as Vice, and Vittorio as Director), for more than 9 years. For the 2011–12 football season, ERG is the corporate partner of the team, especially in activities involving young people.

References

  1. ↑
  2. ↑ NET PROFIT (LOSS) minus MINORITY INTERESTS
  3. ↑ 3.0 3.1 3.2
  4. ↑
  5. ↑ 5.0 5.1
  6. ↑
  7. ↑
  8. ↑
  9. ↑ ,
  10. ↑

External links

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