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2014 Q2 Results and Strategy Update


  • Confirmed hydrocarbon production goal of 3% average annual growth to 2017, thanks to the accelerated development of new discoveries
  • Breakeven for G&P businesses brought forwards to 2014 on renegotiation of long-term gas contracts and strong performance of trading, LNG and power
  • Cash breakeven target for R&M activities confirmed by end 2015 despite worsening market conditions, thanks to higher capacity reductions (-50% from-35%)
  • Increased value from disposals: € 11bn compared to the previous target of € 9 billion
  • Launched cost reduction plan, targeting cumulated savings of € 1.7bn by 2017
  • Operating cash flow to grow from € 11bn in 2013 to more than € 15bn on average in the 2014-15 period (an increase of over 40%)
  • Average annual free cash flow in 2014-2015 to be 20% higher than in 2013

Exploration & Production

Exploration & Production

Eni confirms a 3% increase in average annual hydrocarbon production between 2014 and 2017, starting from 2015. Compare Eni’s production data with those of the countries where we operate.

Gas & Power

Gas & Power

In 2013 gas sales totalled 95.32 billion cubic metres. Electricity sales amounted to 35.05 TWh. Check the data on sales and supplies.

Refining & Marketing

Refining & Marketing

Retail sales in Italy amounted to 6.64 mmtonnes. In the Rest of Europe, 3.05 mmtonnes. Sales of petroleum products, service stations, Eni’s market share in Europe.

Trading

Trading

Eni Trading is the new internal business unit responsible for the integrated management of commodity and asset-backed securities trading risks.
It operates through Eni Trading and Shipping (ETS), with offices in London, Rome, Milan, Houston, Brussels, Amsterdam and Singapore.

Engineering & Construction

Engineering & Construction

Eni operates in engineering, oilfield services and construction both offshore and onshore through Saipem. Saipem will continue focusing on the execution of technologically-advanced mega-projects mainly located in frontier areas and complex environments, carefully selecting business opportunities.

Chemicals

Chemicals

A new industrial and commercial strategy aims to create a market-oriented, efficient, sustainable and world leading company.
Versalis represents the distinctive values and development goals of the repositioning of the company.