Eni SpA, based in Rome, Italy, is among the leading integrated energy players in the world. The upstream operations include the exploitation and production of oil and natural gas resources. Through midstream activities Eni transport and store hydrocarbons. The company is also engaged in refining hydrocarbons and distributing the end products in 71 nations. Apart from providing natural gas, the company also generates and sells electricity. The company operates primarily through three business segments – Exploration & Production (E&P), Gas & Power and Refining & Marketing and Chemicals.
Eni’s Exploration & ...
Eni SpA, based in Rome, Italy, is among the leading integrated energy players in the world. The upstream operations include the exploitation and production of oil and natural gas resources. Through midstream activities Eni transport and store hydrocarbons. The company is also engaged in refining hydrocarbons and distributing the end products in 71 nations. Apart from providing natural gas, the company also generates and sells electricity. The company operates primarily through three business segments – Exploration & Production (E&P), Gas & Power and Refining & Marketing and Chemicals.
Eni’s Exploration & Production segment is responsible for 69% of total segmental adjusted profit in 2023. Through this segment, the company exploits and extracts oil and natural gas in 43 nations. The company’s upstream operations also include businesses related to LNG. This backed the company to produce 1,655 thousand barrels of oil equivalent per day (MBoe/d) in 2023, declining year over year from 1,610 MBoe/d. The total production volumes comprise 46.5% liquid.
As of Dec 31, 2023, the company’s net proved reserves were reported at 6.4 BBoe, declining from the 2022-end level of 6.6 BBoe.
Eni’s Global Gas & LNG Portfolio segment generated 22.5% of total segmental adjusted profit. Through this business unit, the company engages in distributing and marketing natural gas and liquefied natural gas in the wholesale market.
Eni’s Enilive, Refining and Chemicals segment – which accounted for 3.8% of total segmental adjusted profit – is involved in refining and marketing of petroleum products at retail and wholesale markets. Importantly, the company is strongly focused in upgrading and expanding refining plants. Thus, the company has been successfully producing refined petroleum products of premium quality.
The company’s Plenitude & Power business segment was responsible for generating 4.7% of adjusted profits in 2023. Through this segment, the company is responsible for businesses associated to retail marketing of gas and power.