28 Facts About Eni

Eni is a component of the Euro Stoxx 50 stock market index.

Per the Fortune Global 500, Eni is the largest petroleum company in Italy, the second largest based in the European Union, and the 13th largest in the world.

Eni was founded 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.

Eni was originally an acronym for the company's full title Ente Nazionale Idrocarburi .

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.

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In 1960, during the Cold War period, Eni signed an agreement with the Soviet Union for the importation of Russian crude at low prices.

Eni's 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.

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 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.

In 1974, Eni signed an agreement with the Libyan government, followed by additional agreements with Egypt, Nigeria and Tunisia.

In 1992, Eni became a joint stock company by Law Decree, and was listed to the Italian and New York Stock Exchange in 1995.

Since 2000, Eni has been developing the Kashagan oilfield a major offshore discovery, along the Caspian Sea.

In 2007, Eni signed an agreement to conduct South Stream a feasibility study with Gazprom to import Russian gas into Europe across the Black Sea.

In 2010, Eni achieves key production milestone in Iraqi Zubair oil field.

Since 2012, Eni has been selling off refining and marketing assets it owned in eastern Europe to increase profitability.

In 2014, Eni launched a new plan to convert its conventional refineries into biorefineries: the first plant was in Porto Marghera, in 2019 the second one opened in Gela.

In 2016, Eni launched Progetto Italia, which aims to redeveloping its industrial areas and to create new renewable sources production plants: in 2018 the first photovoltaic plant was inaugurated in Assemini, the second opened in Porto Torres, both in Sardinia.

In January 2018, Eni launched its new HPC4 supercomputer, one of the most powerful computing systems which allows a more effective and fast exploration of oil and gas reservoirs.

Since February 2020 Eni replaced the HPC4 supercomputer with the new model HPC5, which has three times the computing ability compared to the previous one.

In 2018 Eni became the first shareholder of the American company Commonwealth Fusion Systems, a spin-out of the Massachusetts Institute of Technology in Boston.

On 17 May 2022 Eni announced the procedures for the creation of an account with Gazprombank in dual currency, in order to be able to proceed with the payment of Russian gas supplies, following the unilateral amendment of the contracts ordered by the Russian Federation.

Eni has about 130 exploration and production subsidiaries, such as Eni Norge.

In March 2022 Eni stopped buying Russian oil because of International sanctions during the Russo-Ukrainian War.

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 .

The commission believes that Eni has conspired to keep competitors from using its gas pipelines.

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In 2012, Eni was included in the Carbon Performance Leadership Index, which scores companies based on their commitment to transparency and environmental leadership.

In 2019, Eni was among the Top 10 companies by sustainability score in the World Business Council for Sustainable Development rank.

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 by Carbon Tracker Initiative in accordance with the goals of the Paris agreement to significantly lower GHG emissions and increase the production of renewable energy.