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HIGHLIGHTS

Strategies

  • Keep tight control on capital expenditures, particularly in refining through strong financial discipline in selecting capital projects
  • Strongly focus on cost reductions and energy efficiency improvements
  • Improve profitability of marketing activities by increasing the quality and range of its retail offer

Service Station detail

Refining & Marketing

Eni is the first operator in the refining business in Italy. In the marketing of refined products Eni is market leader in Italy and holds relevant positions in a number of countries in the rest of Europe.

In 2009, excluding the impact of the divestment of marketing activities in the Iberian Peninsula in 2008 (down 1.52 mmtonnes), sales volumes of refined products (45.59 mmtonnes) were down 3.57 mmtonnes from 2008, or 7.3%, mainly due to lower wholesale sales on the domestic and foreign market.

 

Capital expenditures

In 2009, capital expenditures in the Refining & Marketing segment amounted to €635 million and regarded mainly:


  • refining, supply and logistics  in Italy (€436 million), with projects designed to improve the conversion rate and flexibility of refineries, including the construction of an industrial plant employing the Eni’s proprietary Est technology, a new hydrocracker at the Sannazzaro refinery (operating from July) and at the Taranto refinery (start up scheduled in 2010) as well as expenditures on health, safety and environmental upgrades;

  • upgrade of the retail network in Italy, wholesale and LPG activities (€118 million);

  • upgrade of the retail network and purchase of service stations in the rest of Europe (€54 million). Expenditures on health, safety and the environment amounted to €78 million.


Portfolio development and main projects

On January 21, 2010 Eni signed an agreement for the acquisition of downstream activities in Austria, including a retail network of 135 service stations, wholesale activities (with 36 additional Esso retail service stations owned by third parties) as well as commercial assets in the aviation business and related logistic and storage activities. The finalization of the transaction is subject to the approval of the relevant antitrust authorities.


The upgrading process of Eni’s retail network of service stations continued aimed at improving service and quality standards. In 2010 the re-branding to “eni‘ brand of all downstream activities was launched.

 
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Last updated on 06/05/10