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Eni’s investment case

A clear proposal on why to invest in Eni.

We have built a new Eni based on efficiency, integration and deployment of new technologies. Decarbonization is structurally embedded in our overall strategy and ambitions. In our energy transition path, we have defined the decarbonization objectives for 2050, with intermediate milestones for 2030 and 2040. This section highlights Eni's investment case.

1. Committed for a better world: reducing the carbon footprint

  • Net lifecycle GHG emissions (Scope 1&2&3) @2050: -80% vs 2018. GHG Intensity @2050: -55% vs 2018
  • Scope 1&2: Upstream net zero carbon footprint @2030; Eni net zero carbon footprint @2040

2. Upstream: resilient and flexible

  • 3P Reserves average breakeven ~ $20/boe
  • Production growth CAGR in the range of 2% in 2019-2023 reaching a plateau in 2025
  • Exploration will target 2 Bln bbl of new discoveries in 2020-2023 at a leading cost of 1.6 $/bbl
  • Gas share: 60% @ 2030 and 85% @ 2050

3. Renewables: a global integrated operator in the green power value chain

  • Installed capacity worldwide (mainly solar and wind): 3GW @2023; 15GW @2030; 55GW @2050
  • 70% of capacity in OECD countries

4. G&P: growing in retail to capture market value

  • Customer base (9.4 mln in 2019) will grow to 11 mln in 2023 and >20 mln in 2050
  • LNG growth to 16 MTPA by 2025. Strong integration with Upstream gas equity

5. Downstream: a progressive conversion to bio-products

  • Refining: Bio capacity @ 1 MTPA in 2021 (palm oil-free by 2023) and >5 MTPA by 2050. Ruwais (UAE) will be the only traditional refinery in the long term
  • Eni stations: 100% sustainable products sold by 2050

6. Progressive Shareholders’ remuneration policy

  • new shareholders’ remuneration policy in order to give them maximum visibility on dividends payments and future buy back plan, as a result of a changed, highly volatile scenario and the actions undertaken to face its effects.
Eni’s Investment Case

Fact Sheet

PDF 233.21 KB
PDF 233.21 KB