 | |
 Palazzo Eni, the group's headquarters | |
| Company type | Public |
|---|---|
| ISIN | IT0003132476 |
| Industry | Oil and gas |
| Founded | 10 February 1953; 73 years ago (1953-02-10) |
| Founder |
|
| Headquarters | , Italy |
Area served | Worldwide |
Key people | |
| Products | Petroleum,natural gas,petroleum products |
| Revenue |  €88.80 billion (2024)[2] |
| €5.238 billion (2024)[2] | |
| €2.62 billion (2024)[2] | |
| Total assets |  €146.9 billion (2024)[2] |
| Total equity | €55.6 billion (2024)[2] |
| Owner |
|
Number of employees | 32,492 (2024)[2] |
| Subsidiaries |
|
| Website | www |
Eni S.p.A. (Italian pronunciation:[ˈɛːni]; former legal nameEnte nazionale idrocarburi "NationalHydrocarbons Board") is an Italian multinational energy company. It is considered one of the"supermajor" oil companies in the world, with amarket capitalization of €40 billion, as of 31 December 2024.[2] The Italian government owns a 30.5%golden share in the company, 1.99% held through theMinistry of Economy and Finance and 28.5% through theCassa Depositi e Prestiti.[3] The company is a component of theEuro Stoxx 50stock market index.[4]
Through the years after its foundation, it operated in many fields includingcontracting, nuclear power, energy, mining,chemicals and plastics, refining/extraction and distribution machinery, the hospitality industry and even thetextile industry and news.
With revenues of around €92.2 billion, Eni ranked 111th on both theFortune Global 500 and theForbes Global 2000 in 2022, making it the third-largest Italian company on theFortune list (afterAssicurazioni Generali andEnel) and second largest on theForbes list (after Enel). On theFortune Global 500, Eni is the largest petroleum company in Italy, the second largest based in theEuropean Union (afterTotalEnergies), and the 13th largest in the world.[5][6] In 2024, the company’s seat in theForbes Global 2000 was 151,[7] while in theFortune Global 500 it was 98.[8]
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Eni was founded in 1953 by an existing company,Agip, which was created in 1926 with the aim to explore for oilfields, and acquire and commercialize oil and derivatives.[10][11] In March 1953,Enrico Mattei was nominated Eni's chairman.[12][13][14][15] In 1952, the logo of the then nascent Eni was selected. The logo is a six-legged dog, an imaginary animal symbolizing the sum of a car's four wheels and the two legs of its driver.[16]
Starting in 1954, Eni acquired extensive exploration rights in North Africa, signing an agreement with the Egyptian government led byNasser while providing an active and equal role for the crude producing countries through the establishment of joint ventures.[14][17] In 1957, Eni pushed for a similar agreement, known as the "Mattei formula",[18][19] to be signed with Persian ShahMohammad Reza Pahlavi and theNational Iranian Oil Company.[20][21][22] In 1960, during theCold War period, Eni signed an agreement with theSoviet Union for the importation of Russian crude at low prices.[23][24]
On 27 October 1962, Enrico Mattei's airplane mysteriously exploded nearBascapè, on his way toMilan fromCatania.[25][26] His death was initially considered an accident, but later it was confirmed to be a murder with the aim of protecting and hiding important economic and political interests in Italy and especially abroad, as it is clearly stated in the records of the trial on the assassination of the journalistMauro De Mauro, who was investigating the death of Enrico Mattei.[27]
During the following years, Eni signed joint venture contracts with foreign companies to supply crude from Egypt to Iran and from Libya to Tunisia.[28] In 1963, Eni acquired a majority stake inItalgas.[29]
In October 1973, after theYom Kippur War and the OPEC embargo[30][31] against the United States and the Netherlands byOPEC members and Arab countries, a serious oil crisis occurred,[32] causing Eni to consolidate its position in the international market by signing an agreement withSonatrach, the Algerian state oil entity for natural gas supply.[33]
In 1974, Eni signed an agreement with the Libyan government, followed by additional agreements with Egypt, Nigeria and Tunisia.[34][35][36][37]
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 theMediterranean.[38][39][40]
After the inauguration of theTrans-Mediterranean Pipeline connecting Algeria toSicily through Tunisia,[41] Eni signed a new agreement with Libya for the exploitation ofBoùri,[42] the biggest oilfield in the centre of theMediterranean,[43] and developed its international role within the oil industry.[44]
In 1992, Eni became ajoint-stock company by Law Decree,[45][46][47][48][49] and was listed to theItalian andNew YorkStock Exchange in 1995.[50][51][52]
From 1995 to 1998, Eni successfully made four share offers, as 70% of its capital assets were sold to private shareholders.[53][54][55]
As the price of oil collapsed in 1998, like other major companies, Eni got into the melee of mergers, international acquisitions, new exploration and the foundation of real super-companies.[56][57][58]
Since 2000, Eni has been developing theKashagan[59] oilfield a major offshore discovery, along theCaspian Sea.[60][61]
In 2005, theBlue Stream pipeline, projected to supply gas from southern Russia to Turkey, was inaugurated as a joint venture between Eni andGazprom.[62][63][64]
In 2007, Eni signed an agreement to conductSouth Stream a feasibility study withGazprom to import Russian gas into Europe across theBlack Sea.[65][66][67]
Activist asset managerKnight Vinke, who owns 1% of the outstanding shares of the company, began 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.[68]
In 2010, Eni achieved a key production milestone in Iraqi Zubair oil field.[69][70][71]
After getting a licence in 2006 for the exploration of an offshore area in the north of Mozambique, known as Area 4,[72][73][74] Eni announced several major natural gas discoveries between 2011 and 2012 such asMamba South,[75][76][77][78][79][80]Mamba North,[81][82]Mamba North East[83][84][85][86] and Coral 1.[87][88][89][90]
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In February 2014, Eni discovered oil at its Democratic Republic of the Congo offshore block.[91]
Since 2012, Eni has been selling off refining and marketing assets it owned in eastern Europe to increase profitability. By 2013 Eni had 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 the Czech Republic, to MOL Group of Hungary.[92]
In June 2014, the company signed an agreement withSasol to acquire a 40% interest in a permit to explore 82,000-km2 offshore of South Africa's east coast.[93]
In 2014, Eni launched a new plan to convert its conventional refineries intobiorefineries: the first plant was inPorto Marghera,[94] in 2019 the second one opened inGela.[95]
In January 2015, Eni in collaboration withVitol Energy signed a $7 billion contract with the government of Ghana. This agreement was reached to produce oil and gas atCape 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.[96]
In 2016, Eni launched Progetto Italia,[97] which aims to redevelop its industrial areas and to create newrenewable sources production plants: in 2018 the firstphotovoltaic plant was inaugurated inAssemini,[98] the second opened inPorto Torres,[99] both inSardinia.
In July 2017, the oil giant accepted responsibility for anoil spill affecting the Fylde coast of Blackpool in the United Kingdom.[100]
In January 2018, Eni launched its new HPC4supercomputer, one of the most powerful computing systems which allows a more effective and fast exploration ofoil and gas reservoirs.[97] Since February 2020 Eni replaced the HPC4 supercomputer with the new modelHPC5, which has three times the computing ability compared to the previous one and debuted in sixth position as the most powerful supercomputer of the world.[101][102] In November 2024, Eni launched its new HPC6 supercomputer, the most powerful inEurope and the fifth in the world, capable of executing over 600 million billion di complex mathematical operations in just one second.[103][104]
In March 2018, Eni reached an agreement withMIT 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.[105]
The Rovuma LNG project was approved in May 2019 by the government ofMozambique. The project is a joint venture betweenExxonMobil, Eni andCNPC. Eni will focus on the construction and operation of the upstream facilities.[106][107]
In March 2021, Eni exited the Pakistani market and sold its assets to Prime International Oil & Gas Company. The deal include the assets sold, interests in eight development and production leases and four exploration licences. Prime International Oil & Gas Company, a newly established joint venture (JV) between Eni Pakistan local employees andHub Power Company.[108][109]
In 2018, Eni became the firstshareholder of the American companyCommonwealth Fusion Systems (CFS), a spin-out of theMassachusetts Institute of Technology (MIT) inBoston.[110] CFS aims to build a fusion reactor based ontokamak technology, much more compact and cheaper compared to other existing projects such as the internationalITER.[111] On 5 September 2021, CFS successfully built and tested a 1:1 scale prototype of a magnet based on HTS (High Temperature Superconductors)superconductors. The experiment demonstrated for the first time that it is possible to create a fusion chamber where the confinement of theplasma is ensured by this type of super magnets. This kind of fusion chamber will allow the reactor to reach very high temperatures, above 100 million degrees, necessary to make the controlled fusion ofdeuterium andtritium possible and thus to producesustainable energy.[112] In December 2021, ENI become the first energy company in the world to highly invest in magnetic confinement nuclear fusion, through a $1.8 billion partnership in CFS, alla Ng withGoogle andBill Gates.[113]
In 2022, during theRussian invasion of Ukraine, the major oil and gas companies, including Eni, reported sharp rises in interim revenues and profits. The rises are influenced by the prices of raw materials such as oil and gas which have significantly increased, due to their shortage.[114]
On 17 May 2022, Eni announced the procedures for the creation of an account withGazprombank in dual currency (euro andrubles),[115] in order to be able to proceed with the payment of Russian gas supplies, following the unilateral amendment of the contracts ordered by theRussian Federation.[116] The decision was taken in agreement with the Italian government and does not violate the existingsanctions. TheEuropean Commissioner for EconomyPaolo Gentiloni and the competent Russian federal authorities have confirmed that payments will continue to be made in euros and that the conversion operations will be carried out by Russian clearing agents without the involvement of theRussian Central Bank.[117][118]
In June 2022, Eni signed a joint venture withQatarEnergy for the North Field East (NFE) expansion which will be the worlds largest LNG project and begin production in 2025.[119][120] Eni holds a 3.125% stake in the four LNG trains estimated to produce 8 million tonnes a year each.[121]
In October 2023, QatarEnergy signed LNG supply deal with Italy's Eni for 27 years. Affiliates of QatarEnergy and Eni signed a long-term sale and purchase agreement for up to 1 million tons per year (mtpa) of liquefied natural gas (LNG) from Qatar's North Field expansion project.[122]
After 10 years of force majeure, Eni,Sonatrach andBP resumed exploration in their blocks in the Ghadames Basin (A-B) and offshore Block C in August 2023, continuing their contract obligations.[123][124]
In January 2024, Eni acquired Neptune Energy for $4.9 billion. The list of assets includes Neptune’s involvement in the Geng North-1 gas field inIndonesia, as well as projects inWestern Europe,Australia andNorth Africa. Neptune’s business inNorway was purchased directly byVår Energi, a subsidiary of Eni. The assets inGermany were released before the transaction, and will remain with Neptune, managed by theshareholders as a separate group.[125]
In March 2024, Eni made discoveries off theIvory Coast.[126] In July 2024, new oil and gas was discovered in Block 9 of the Yopaat-1 EXP exploration well located off the shore of Mexico in theSureste Basin.[127]
In July 2024, Vår Energi extended its supply deal with Eni until 2036 for up to 5bcm of natural gas.[128]
On 13 February 2025, Eni announced itsFormula One return by supplying fuels toRenault-poweredBWT Alpine F1 Team from 2025 season onwards.
| Year | 2013 | 2014 | 2015 | 2016 | 2017[130] | 2018[131] | 2019[132] | 2020[133] | 2021[134] | 2022[135] | 2023[136] | 2024[137] |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | 116.107 | 110.948 | 68.945 | 56.693 | 66.919 | 75.822 | 69.881 | 43.987 | 76.575 | 132.512 | 93.72 | 88.80 |
| Net Income | 4.972 | 0.850 | −7.127 | −1.044 | 3.374 | 4.126 | 0.148 | −8.635 | 5.821 | 13.887 | 4.771 | 2.62 |
| Assets | 138.088 | 146.207 | 134.792 | 124.545 | 114.928 | 118.373 | 123.440 | 109.648 | 137.765 | 152.130 | 142.606 | 146.939 |
| Employees | 30,970 | 29,403 | 29,053 | 33,536 | 32,934 | 31,701 | 32,053 | 31,495 | 32,689 | 32,188 | 33,142 | 32,492 |
As exploration and reserve replacement being major drivers for the company, Eni boosts for production additions in its core oil field areas (North andSub-Saharan Africa,[138][139][140] Venezuela,[141][142]Barents Sea,[143]Yamal Peninsula,[144][145] Kazakhstan,[146][147] Iraq[148] and the Far East).[149][150] Eni has about 130 exploration and production subsidiaries, such as Eni Norge. In March 2022 Eni stopped buying Russian oil because ofInternational sanctions during the Russo-Ukrainian War.[151]
In 2012, Eni reported liquids and gas production for the full year of 1,701 thousandbarrel of oil equivalent per day (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 1 July 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.
In 2019 Eni reported hydrocarbon production for the full year of 1,871 kboe/d.
In 2021 Eni reported hydrocarbon production for the full year of 1,682 kboe/d.
In 2022 Eni reported hydrocarbon production for the full year of 1,610 kboe/d.[2]
In 2023 Eni reported hydrocarbon production for the full year of 1,66 kboe/d.[2]
In 2024 Eni reported hydrocarbon production for the full year of 1,70 kboe/d.[2]
In 2012, sales of natural gas were 95.32 bcm, down 1.44 bcm compared to 2011.[152]
In 2019 Eni reported sales of natural gas worldwide of 73.07 bcm.
In 2021 Eni reported sales of natural gas worldwide of 70.45 bcm.
In 2022 Eni reported sales of natural gas worldwide of 60.52 bcm.[2]
In 2023 Eni reported sales of natural gas worldwide of 50.51 bcm.[2]
In 2024 Eni reported sales of natural gas worldwide of 50.88 bcm.[2]
Eni's power generation sites are located inFerrera Erbognone,Ravenna,Livorno,Taranto,Mantua,Brindisi,Ferrara and Bolgiano.[153][154] 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 includeIberian Peninsula, Germany, Austria,Benelux, Hungary, UK/Northern Europe, Turkey, France markets.[155][156][157][158]
Eni's electricity generation sites in Italy, as of July 2018, are the following:
Eni is the leader operator in refining and marketing of petroleum products in Italy.[159]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).[160][161]Eni'smarket share in refining and marketing in 2019 was 23.7% in Italy, 12.3% in Austria, 7.7% in Switzerland, 3.2% in Germany and 0.6% in France. Eni also owned a 20% share of Ruwais refinery in Abu Dhabi.Retail sales operations are conducted under the Eni andAgip brands. The re-branding of Eni's service stations in Italy and in the rest of Europe to Eni brand is underway.[162][163]
Eni operates in engineering, construction and drilling both offshore and onshore for the oil & gas industry through the subsidiarySaipem.
In April 2012, Eni in collaboration with ZEiTECS announced the world's first offshore rigless/wireline retrievable ESP system for Eni Congo.[164]
Eni's principal subsidiaries include:[2]
TheCentral Energy Italian Gas Holding scandal in 2005 involved Eni andGazprom.[168]
In 2009, the European Commission filed formal antitrust charges against Eni. The commission believes Eni has conspired to keep competitors from using its gas pipelines.[169]
In 2009 again, according toleaked diplomatic cables, US ambassador Lanier told Washington that bribery allegations were made inUganda 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.[170]
After corruption charges against the subsidiary Saipem, Eni's CFO Alessandro Bernini resigned and the new CFO Massimo Mondazzi took over in December 2012.[171]
Eni and Royal Dutch Shell stood trial in Italy over allegations of corruption in the 2011 purchase of abig offshore oil field inNigeria known as OPL 245. Eni and Shell reportedly paid $1.3 billion in bribes.[172][173][174] On 17 March 2021, the Italian court of Milan fully acquitted Eni, its chief executive officer Claudio Descalzi and Royal Dutch Shell in the corruption trial for the Nigerian oil field OPL245.[175][176] TheNigerian government stated that it is "disappointed" by the Milan court's ruling and "will continue to hold those responsible for the OPL 245 fraud accountable."[177] On 19 July 2022, the Attorney General waived the appeal before the Second Section of the Court of Appeal of Milan, making the acquittal sentences pronounced in March 2021 final.[178] On October 8, 2024, the deputyprosecutor Fabio De Pasquale and the public prosecutor Sergio Spadaro were sentenced by the Court ofBrescia to 8 months in prison for theomission of evidence deemed favorable to the defendants, in the Eni - Nigeria trial.[179]
In 2012, Eni was included in the Carbon Performance Leadership Index, which scores companies based on their commitment to transparency and environmental leadership.[180] In the first half of 2014 Eni achieved the start-up of the Porto Torres green chemistry plant and theVenice biorefinery, with the aim to increase its production of bio and green energy.[181][182] According to the 2017Carbon Majors Report, which stores GHG emissions data on the largest company-related sources of all time, Eni accounted for 0.59% of global industrialgreenhouse gas emissions from 1988 to 2015.[183] In 2019, Eni was among the Top 10 companies by sustainability score in theWorld Business Council for Sustainable Development (WBCSD) rank.[184][185] From 2020 to 2022, Eni is the first oil company with the most ambitious absolute emissions reduction target according to the report Absolute Impact 2022 byCarbon Tracker Initiative[186] in accordance with the goals of theParis agreement to significantly lower GHG emissions and increase the production of renewable energy. In September 2021, Eni joined together with theInternational Renewable Energy Agency (IRENA) in a three-year partnership to promote renewable energy.[187][188]
The board of directors is comprised as follows as of May 2023:
Last updated: 22 September 2025 | |
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