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 Hydrocarbon Agency), is a state-controlled company established by the Italian government on February 10, 1953, to ensure domestic supplies of oil and natural gas. Its predecessor was AGIP (Azienda Generale Italiana Petroli), the Italian General Oil Company, founded in 1926. Eni is one of the world’s seven largest oil companies and also 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 Hydrocarbon Agency). Eni was formerly one of Italy’s two major state-owned enterprise associations; today it operates subsidiaries in over 70 countries 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 restructured 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 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] Number of Employees 31,701 (2019)[2] Contributors to this entry 16 contributors: wantukj0098, yinshuici, baidu_yixia_home, shutong_xiashui_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

Oil market heavyweight: Oil prices remain in a 'transitional phase'

Although the oil market has experienced several years of volatility, Claudio Descalzi, Chief Executive Officer of Italy’s Eni Group—a major oil and gas company—expects oil prices to rise further eventually, but anticipates that 2017 will still be a period of transition. Descalzi stated, “I believe oil prices will rise further.” Over the past three years, Eni Group has been undergoing corporate restructuring to cope with fluctuating oil prices. In its “Strategic Plan 2017–2020,” released on Wednesday, Eni forecasts a moderate upward trend in oil prices over the coming years, projecting that prices will reach USD 70 per barrel by 2020. However, Eni stated in its report, “We will maintain steady price increases through strict cost control.” Descalzi remarked, “I believe we are currently in a transitional phase, because oil inventories remain abundant; therefore, producers must generally reduce stockpiles before selling more into the market.” Descalzi expressed confidence that oil prices would rise further, though he was uncertain when this would occur, and acknowledged that 2017 remains a “transitional phase.”

Italy's Eni Caps Fuel Prices as Meloni Struggles to Tame Rising Costs

18 hours ago

Italian energy giant Eni capped fuel prices for at least one month, offering discounts of around 17 cents per litre to support government efforts against rising costs. The decision addresses burdensome prices driven by geopolitical crises and European refining shortages.

reuters

2026-09-25

Italy's Eni Caps Fuel Prices as Meloni Struggles to Tame Rising Costs

Italy's Eni Caps Fuel Prices as Meloni Struggles to Tame Rising Costs

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