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.
Eni intends to restore profitability despite of the continuous worsening of the scenario, which in 2013 saw the fall of the refining margins to an unprecedented level.
In the refining activities, gradual recovery will be supported by:
In marketing operations, management intends to strengthen Eni’s presence in the retail fuels market by means of:
In the wholesale business, Eni intends to capture opportunities deriving from the closing of third-parties’ refineries, in order to safeguard its position. Finally, Eni will launch innovative activities such as the development of new products (LNG in automotive segment) and innovative services (smart mobility).
Based on these initiatives, in the 2014-2017 four-year period Eni expects to increase its adjusted EBIT under constant scenario assumptions for refining and marketing (base 2013) of more than €0.7 billion.
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 27/05/14