We are the leader operator in refining and marketing of petroleum products in Italy. We hold interests in some refining poles in Europe and we are engaged in retail and wholesales activities in Central-Eastern European countries. Retail sales operations are conducted under the "eni" and "agip" brands. The re-branding of Eni's service stations in Italy and in the rest of Europe to "eni" brand is underway.
In a market characterized by a continuous margin decline and by excess European refining capacity, Eni has increased its capacity reduction goal from 35% to over 50%. This will be achieved by converting part of its plants in Italy and further reductions in the company’s presence across Europe. Eni is therefore able to confirm R&M operating cash flow breakeven by the end of 2015 and ebit breakeven by 2016, despite the worsening scenario.
In 2013, capital expenditure in the Refining & Marketing Division amounted to €619 million and regarded mainly:
(i) refining, supply and logistics in Italy and outside Italy
(€444 million), with projects designed to improve the conversion rate and flexibility of refineries, in particular the Sannazzaro Refinery, as well as expenditure on health, safety and environmental upgrades; (ii) upgrading and rebranding of the refined product retail network in Italy (€107 million) and in the Rest of Europe (€68 million). Overall in the year, expenditure in health, safety and environment amounted to €105 million.
Last updated on 27/08/14