Eni S.p.A.: One of the world's seven largest oil companies

Eni S.p.A. Company Eni S.p.A., officially Ente Nazionale Idrocarburi (National Hydrocarbons Agency), is an Italian state-controlled company established on February 10, 1953, to ensure domestic supply of oil and natural gas. Its predecessor was AGIP (Azienda Generale Italiana Petroli), the Italian General Petroleum Company, founded in 1926. Eni is one of the world’s seven largest oil companies and among the world’s largest integrated upstream-downstream multinational oil corporations; it ranks eighth among the world’s major refining companies. In 1992, Eni was restructured from a state-owned enterprise into a joint-stock company. In the 2009 Fortune Global 500 ranking, Eni ranked 17th. Eni S.p.A., officially Ente Nazionale Idrocarburi (National Hydrocarbons Agency). Eni was formerly one of Italy’s two major state-owned enterprise associations; today it operates subsidiaries in over 70 countries worldwide and employs more than 70,000 people. Eni is one of the world’s leading integrated upstream-downstream multinational oil companies. In 1992, Eni was converted from a state-owned enterprise into a publicly listed joint-stock company. Its business scope includes exploration and production of oil and natural gas, petroleum refining and fuel marketing, production and sale of petrochemical products, as well as engineering contracting and services for oilfields. Company Name Eni S.p.A. English Name Ente Nazionale Idrocarburi Founded 1992 Headquarters Italy Annual Revenue US$80 billion (2018)[1] Employees 31,701 (2019)[2] Contributors to this entry 16 contributors: wantukj0098, yinshuici, baiduhome, shutongxiashui guandao la Related star charts 2023 Hurun Global 500 498 entries 1.626 million views Apple Inc. Enterprise valuation: RMB 192.29 billion / Industry: Consumer goods Microsoft Corporation Enterprise valuation: RMB 181.94 billion / Industry: Software & Services Alphabet Inc. Enterprise valuation: RMB 112.44 billion / Industry: Media & Entertainment View more 2023 Forbes Global 2000 Top 100 100 entries 172,000 views JPMorgan Chase & Co. Country/Region: United States / Industry: Banking Saudi Arabian Oil Company (Saudi Aramco) Country/Region: Saudi Arabia / Industry: Oil & Gas Industrial and Commercial Bank of China Limited Country/Region: Mainland China / Industry: Banking View more 2023 World’s 500 Most Valuable Brands 480 entries 652,000 views Apple Inc. Country: United States / Brand value: USD 94.2164 billion Saudi Arabian Oil Company (Saudi Aramco) Country: Saudi Arabia / Brand value: USD 82.2267 billion Microsoft Corporation Country: United States / Brand value: USD 72.4135 billion View more 2023 Fortune Global 500 Ranking 500 entries 1.907 million views Walmart Inc. Revenue (in millions of USD): 611,289 / Country: United States

European chemical industry seeks a 'lifeboat' for survival

This month, the European Commission responded by pledging support for domestic production of chemicals—such as ethylene and propylene—that hold strategic importance for its industrial base. Italy plans to expand state aid for factory modernization and requires public tenders to prioritize products manufactured in Europe—a measure analogous to the EU’s 2023 legislation targeting metals and minerals. Yet such measures may already be too late to reverse losses. Ricci, Head of Industrial Transformation at Eni, the Italian energy group, stated: “It’s like being aboard the Titanic—you cannot keep denying reality. You must go find a lifeboat.” Ricci noted that Versalis, Eni’s chemical subsidiary, has accumulated over €3 billion (USD 3.5 billion) in losses over the past five years, having shut down Italy’s last two steam crackers while investing €2 billion in bio-refineries and chemical recycling. Other multinational groups—including Dow Chemical, ExxonMobil, TotalEnergies, and Shell—are also shutting down or evaluating their chemical assets in Europe. The plants slated for closure are mostly cracking units—facilities that convert hydrocarbons into ethylene, propylene, or other key chemical feedstocks. A March report on the petrochemical industry issued jointly by eight EU member states warned that Europe could lose additional cracking units by 2035, putting 50,000 jobs at risk. EU plants are predominantly small- and medium-sized, with average utilization rates below 80%—a level widely considered economically unviable. According to data from consultancy Wood Mackenzie, up to 40% of the EU’s ethylene capacity (totaling 24.5 million tonnes) faces high or medium risk of shutdown—including those announced since the end of 2024. Gilfillan, Wood Mackenzie’s Head of Plastics and Recycling Markets, remarked: “The proportion of European crackers at risk is significantly higher than in any other region.” [New Dependencies] According to consultancy ADI Analytics, North America’s ethylene capacity will rise from 54 million tonnes currently to 58 million tonnes by 2030. Meanwhile, the Chief Executive Officer of China Chemical Information Center stated in May this year that China’s ethylene capacity will grow annually by 6.5% between 2025 and 2030, reaching nearly 87 million tonnes per year—more than three times the EU’s current capacity. European policymakers now confront a stark choice: intervene decisively—or watch helplessly as Europe’s chemical industry pillar gradually erodes.

Eni Flags Shutdown Risk at Southern Italy Refinery Due to Steelworkers' Protest

Oct 15, 2026

Eni warns its Taranto refinery risks shutdown as steelworkers' protests block logistics and create technical gas shortages. Consequently, fuel supplies to local stations, airports, and essential services remain disrupted.

reuters

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EU Should Reconsider Ban on Russian Gas Imports, Eni CEO Says

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Italy's Eni makes major Indonesian offshore gas discovery

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Eni, Repsol Reach Deal to Start Exporting Venezuelan Gas in 2031

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Le Pen’s Energy Plan for France Called a ‘Disaster’ by Engie CEO

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Italy's Eni raises share buyback to 2.8 billion euros