Eni facts for kids
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Palazzo Eni, the Rome headquarters
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| Società per azioni | |
| Traded as |
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| ISIN | ISIN: [https://isin.toolforge.org/?language=en&isin=IT0003132476 IT0003132476] |
| Industry | Oil and gas |
| Founded | 10 February 1953 |
| Founder | Enrico Mattei |
| Headquarters |
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Italy
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Area served
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Worldwide |
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Key people
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| Products | Petroleum, natural gas, petroleum products |
| Revenue |  €93.72 billion (2023) |
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Operating income
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€8.257 billion (2023) |
| €4.771 billion (2023) |
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| Total assets | €142.6 billion (2023) |
| Total equity | €53.64 billion (2023) |
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Number of employees
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33,142 (2023) |
| Subsidiaries | Enilive, Eni Plenitude, Versalis, Eni Rewind, EniPower, EniProgetti, Saipem, Agenzia Giornalistica Italia |
Eni S.p.A. is a big Italian energy company with its main office in Rome. It's known as one of the world's "supermajor" oil companies. This means it's one of the biggest and most important companies in the oil and gas industry. The Italian government owns a large part of the company.
The name "ENI" first stood for "Ente Nazionale Idrocarburi," which means "National Hydrocarbons Board." Over the years, Eni has worked in many different areas. These include finding and producing oil and gas, making chemicals, and even working in hotels and news!
Eni is one of the largest Italian companies in the world. In 2023, it was ranked 81st on the Forbes Global 2000 list and 61st on the Fortune Global 500 list.
Contents
History of Eni
How Eni Started
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Eni was created in 1953 from an older company called Agip. Agip started in 1926 to find oil, buy it, and sell oil products. In March 1953, Enrico Mattei became the chairman of Eni.
The name "ENI" was originally short for "Ente Nazionale Idrocarburi" (National Hydrocarbons Board). Even though the full meaning isn't used anymore after 1995, the name "Eni" stayed.
The Six-Legged Dog Logo
In 1952, Eni chose its famous logo: a six-legged dog. This imaginary animal represents a car's four wheels plus the two legs of its driver. It symbolizes the journey and energy.
Growing Around the World (1950s–1960s)
Starting in 1954, Eni began looking for oil in North Africa. They made deals with countries like Egypt, making sure these countries had an equal say in how the oil was produced. In 1957, Eni made a similar deal with Iran. In 1960, Eni even signed an agreement with the Soviet Union to buy Russian oil at good prices.
Sadly, on October 27, 1962, Enrico Mattei's airplane crashed mysteriously. At first, people thought it was an accident. Later, it was confirmed that he was murdered. This was done to hide important money and political secrets.
In the years that followed, Eni continued to make deals with foreign companies. They supplied oil from Egypt to Iran and from Libya to Tunisia. In 1963, Eni also bought a large part of Italgas, a gas company.
Oil Crises and Pipelines (1970s–1980s)
In 1973, after a war and an oil ban by some countries, there was a big oil crisis. Eni became stronger in the world market by signing a deal with Algeria for natural gas.
In 1974, Eni made more agreements with Libya, Egypt, Nigeria, and Tunisia. In the mid-1970s, Eni planned a huge project to move natural gas over long distances. They built thousands of miles of pipelines across Europe and the Mediterranean.
After the Trans-Mediterranean Pipeline was opened, connecting Algeria to Italy, Eni signed a new deal with Libya. This was for the Boùri oilfield, the biggest in the Mediterranean. This helped Eni become even more important in the oil industry.
Becoming a Public Company (1990s–2000s)
In 1992, Eni became a "joint stock company." This means its ownership is divided into shares that can be bought and sold. In 1995, Eni's shares were listed on the Italian and New York Stock Exchange. This allowed private people and companies to buy parts of Eni. Between 1995 and 1998, about 70% of Eni's shares were sold to private owners.
When oil prices dropped in 1998, Eni, like other big companies, started to merge with or buy other companies. They also looked for new oil and gas fields to become a "super-company."
New Discoveries and Projects (2000s–2010s)
Since 2000, Eni has been working on the Kashagan oilfield, a large discovery in the Caspian Sea. In 2005, the Blue Stream pipeline opened. This pipeline, a joint project between Eni and Gazprom, carries gas from Russia to Turkey.
In 2007, Eni and Gazprom also agreed to study the South Stream project. This project aimed to bring Russian gas to Europe across the Black Sea.
In 2010, Eni reached a big production goal at the Zubair oil field in Iraq. Between 2011 and 2012, Eni found several large natural gas fields offshore in Mozambique, including Mamba South and Coral 1.
Eni Today (2010 to Present)
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In February 2014, Eni found oil in its offshore area in the Democratic Republic of Congo. Eni has also been changing its older refineries into biorefineries. These plants turn things like vegetable oils into cleaner fuels. The first one opened in Porto Marghera in 2014, and a second one in Gela in 2019.
In 2015, Eni found a huge gas field off the coast of Egypt. In 2016, Eni started "Progetto Italia" (Project Italy). This project aims to improve its industrial areas and build new renewable energy plants. For example, they opened solar power plants in Sardinia.
In 2018, Eni launched its new HPC4 supercomputer. This powerful computer helps them find oil and gas fields faster and more effectively. In 2020, they upgraded to an even more powerful supercomputer called HPC5.
Eni is also investing in new energy technologies. In 2018, Eni became a major investor in Commonwealth Fusion Systems (CFS). This American company is working to build a tokamak fusion reactor. This type of reactor aims to create clean, sustainable energy by fusing atoms, similar to how the sun produces energy. In 2021, CFS successfully tested a key part of their fusion reactor, showing it's possible to create a fusion chamber using special super magnets.
In 2022, Eni, like other oil and gas companies, saw its profits increase. This was because the prices of oil and gas went up due to shortages. In May 2022, Eni found a way to pay for Russian gas supplies without breaking international rules.
In June 2022, Eni joined a project with QatarEnergy to expand the North Field East (NFE) gas project. This will be the world's largest project for liquefied natural gas (LNG). In October 2023, QatarEnergy signed a 27-year deal to supply LNG to Eni.
In January 2024, Eni bought Neptune Energy for $4.9 billion. This deal added new oil and gas projects in places like Indonesia, Europe, Australia, and North Africa to Eni's business.
How Eni Operates
Eni works in many areas of the energy business.
Finding and Producing Oil and Gas
Eni is always looking for new places to find oil and gas. They have operations in many parts of the world, including Africa, Venezuela, Kazakhstan, and Iraq. In March 2022, Eni stopped buying Russian oil due to international rules.
In 2023, Eni produced about 1.66 million barrels of oil equivalent per day. They also drill many new wells each year to find more oil and gas.
Gas and Power
Eni sells a lot of natural gas. In 2023, they sold about 50.51 billion cubic meters of natural gas worldwide.
Eni also generates electricity at several power plants in Italy. In 2012, Eni produced 25.67 TWh of electricity. Eni supplies gas and electricity to millions of customers, including homes, businesses, and public buildings, both in Italy and other European countries.
Power Plants
Eni has several natural gas power plants in Italy:
- Bolgiano – 95 MW
- Brindisi – 1715 MW
- Ferrara – 586 MW
- Ferrera Erbognone – 1785 MW
- Mantua – 1387 MW
- Ravenna – 618 MW
Refining and Selling Fuel
Eni is a top company in Italy for refining crude oil and selling petroleum products. They have gas stations and wholesale operations in many Central and Eastern European countries. These include Austria, France, Germany, and Switzerland. Eni's gas stations use both the Eni and Agip brands. They are currently changing all their stations to the Eni brand.
Engineering and Construction
Eni also works in engineering, construction, and drilling for the oil and gas industry. They do this through their company called Saipem. Saipem builds things like offshore platforms and pipelines.
Eni's Other Companies (Subsidiaries)
Eni owns several other companies that help it do its work:
- Azule Energy is a joint company with BP that handles oil, gas, and solar energy in Angola.
- Enibioch4in makes biomethane, a type of renewable gas.
- Eni India works on finding oil and gas in India.
- Eni Next LLC invests in new technologies for the Eni Group.
- Eni Plenitude sells natural gas and electricity to homes and businesses. It also produces energy from renewable sources and has charging stations for electric cars.
- EniPower generates and sells electricity.
- EniProgetti provides engineering services.
- Eni Rewind helps clean up the environment.
- Enilive SpA focuses on sustainable ways to travel and offers cleaner products.
- Eni UK operates in the British part of the North Sea.
- Eniverse helps create new technology companies.
- Export LNG Ltd owns a plant that turns natural gas into liquid for shipping.
- Ieoc SpA is an active company in Egypt.
- LNG Shipping SpA transports liquefied natural gas by sea.
- Saipem (30.54% owned) is a company that builds things for the oil and gas industry, like pipelines.
- Versalis (100% owned) is a chemical company that makes many different chemical products. It also focuses on "green chemistry," which means making chemicals in a more environmentally friendly way.
Working Towards a Better Future (Sustainability)
Eni is working to be more environmentally friendly. In 2012, Eni was recognized for being open about its environmental efforts. In 2014, Eni started its first biorefinery in Porto Torres, which turns natural materials into fuel.
Eni is also working to reduce its greenhouse gas emissions. From 1988 to 2015, Eni was responsible for 0.59% of global industrial greenhouse gas emissions. However, Eni is now aiming to significantly lower its emissions and produce more renewable energy. In 2021, Eni had an installed capacity of 1,188 MW from renewable sources. They also reduced their carbon footprint from oil and gas production by 26% compared to 2018. In September 2021, Eni partnered with the International Renewable Energy Agency (IRENA) to promote renewable energy.
Images for kids
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Palazzo Eni, the Rome headquarters
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Palazzo ENI, Rome, built 1959–1962. Photo by Paolo Monti, 1967
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Eni petrol station in Lentiai
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Eni Oil Bouri DP4 in Bouri Field is the biggest platform in the Mediterranean Sea.
