We could not find any results for:
Make sure your spelling is correct or try broadening your search.

Trending Now


It looks like you aren't logged in.
Click the button below to log in and view your recent history.

Hot Features

Registration Strip Icon for monitor Customisable watchlists with full streaming quotes from leading exchanges, such as LSE, NASDAQ, NYSE, AMEX, Bovespa, BIT and more.

ENI Edin. New It

0.00 (0.00%)
14 Jun 2024 - Closed
Delayed by 15 minutes
Share Name Share Symbol Market Type Share ISIN Share Description
Edin. New It LSE:ENI London Ordinary Share GB00B084LP54 ORD 1P
  Price Change % Change Share Price Shares Traded Last Trade
  0.00 0.00% 62.00 0.00 01:00:00
Bid Price Offer Price High Price Low Price Open Price
Industry Sector Turnover Profit EPS - Basic PE Ratio Market Cap
Last Trade Time Trade Type Trade Size Trade Price Currency
- O 0 62.00 GBX

Edin. New It (ENI) Latest News

Real-Time news about Edin. New It (London Stock Exchange): 0 recent articles

Edin. New It (ENI) Discussions and Chat

Edin. New It Forums and Chat

Date Time Title Posts
31/5/202417:57ENI S.P.A. Italian OIL Company369
21/1/200607:30Edinburgh New Income-
19/3/200319:52Enic - Large buys or sells?3
21/3/200218:11Enic not yet tracking AU.21
07/12/200015:11Undervalued with the rise in AU.4

Add a New Thread

Edin. New It (ENI) Most Recent Trades

No Trades
Trade Time Trade Price Trade Size Trade Value Trade Type

Edin. New It (ENI) Top Chat Posts

Top Posts
Posted at 22/5/2024 20:45 by misca2
Eni Is Studying 20% Stake Sale in Biorefining Unit Enilive

Antonio Vanuzzo and Alberto Brambilla, Bloomberg News

The company is working with advisers and values the whole business about €10 billion.

(Bloomberg) -- Eni SpA is studying a sale of a 20% stake in its biorefining unit Enilive as it received expressions of interest from potential suitors, according to people familiar with the matter.

The Italian energy company is now working with advisers and values the whole business about €10 billion ($10.8 billion), said the people, who asked not to be named as they aren’t authorized to discuss the matter publicly. Discussions over the size of the stake sale are at an early stage and the company is still assessing options for the unit, they said.

A representative for Eni declined to comment.

Read More: Eni CEO Confirms Plan to Sell Stake in Enilive or List Unit

Eni has embarked on a reorganization to help fund a transition to gas and renewable energy. Chief Executive Officer Claudio Descalzi is pursuing a so-called “satellite model” for the company, which entails listing divisions or partnering with external investors to develop them.

The new strategy started with the disposal of a minority stake in Eni’s green unit Plenitude to Energy Infrastructure Partners AG in 2023. The company is also targeting to split off its carbon capture unit and its biochemical subsidiary Novamont by 2027.

Enilive comprises biorefining and biomethane assets as well as mobility solutions. It posted adjusted earnings before interest, taxes, depreciation, and amortization of €250 million in the first three months of 2024, up 27% compared to the same period last year.
Posted at 21/5/2024 06:10 by grupo guitarlumber

Eni Gets $210MM Funding to Grow Biofuels Production in Kenya

by Jov Onsat
Rigzone Staff

| Monday, May 20, 2024 | 11:26 AM EST

Eni secured $210 million in financing from the Italian government and the World Bank to grow its production of mainly oilseed-based biofuels in Kenya.
Image by HPS-Digitalstudio via iStock

Eni SPA has secured $210 million in financing from the Italian government and the World Bank to grow its production of mainly oilseed-based biofuels in Kenya.

The International Finance Corp. (IFC), the World Bank’s private sector arm, is contributing $135 million while the Italian Climate Fund is chipping in $75 million, according to a joint press release by Eni and the two backers. The investments were announced at the Africa CEO Forum last week in Rwanda’s capital Kigali.

The new support will help Italian government-controlled Eni build new processing plants and raise oilseeds feedstock production to 500,000 tons a year from 44,000, Eni said.

“The project will also work with farmers, providing inputs, mechanization, logistics, certification, and training to help them produce oilseeds, which are grown on degraded land not suitable for food production and/or grown in rotation with food crops, helping enhance soil fertility”, the news release stated.

Eni chief executive Claudio Descalzi said in a statement, “By partnering with IFC and the Italian Climate Fund, Eni further enhances its agrifeed stock projects in Kenya, expanding its reach to up to 200,000 small-scale Kenyan farmers over the next five years, and strengthens the country’s integration in the biofuels value chain”.

“This cooperation fits with Eni’s model to leverage public-private partnerships to support communities, generate long-term value, and create virtuous, lasting alliances with African countries”, Descalzi added.

IFC managing director Makhtar Diop was quoted as saying, “This project marks the dawn of a new industry for Kenya, an industry where Kenya could become a world leader”.

Eni noted world biofuel demand has climbed nearly six percent annually in the last five years driven by the transport sector. Using data from the International Energy Agency’s World Energy Outlook 2022 report, Eni said, “In a net zero by 2050 scenario, the use of biofuels in transportation is expected to more than double to 9 percent by 2030”.

“While production of sustainable biofuels is currently more expensive than traditional fuels, costs are expected to fall as more capacity is built up and technology advances. This new investment will support these efforts”, Eni added.

Eni, which claims to be the first company to convert traditional refineries into biorefineries through two projects in Italy, plans to expand its biorefining capacity from 1.65 million metric tons per annum (MMtpa) as of 2023 to over five MMtpa by 2030.

Eni has pledged to go carbon dioxide-neutral by 2050, and the “development of biofuels is one of the Eni’s Just Transition drivers based on the circular economy”, as stated in Eni’s 2022 annual report on its net zero progress.

Besides funding, IFC will provide advisory services for the development of the advanced biofuel value chain in the Eastern African country “including through the promotion of good agricultural practices and the professionalization of farmer aggregators”, Eni said.

Eni plans to replicate its Kenyan biofuels campaign in other countries in Africa.

It said it will work to obtain International Sustainability and Carbon Certification for all its biofuel feedstocks.

To contact the author, email
Posted at 31/1/2024 19:16 by waldron

Eni completes $4.9bn acquisition of Neptune Energy

By Allister Thomas
31/01/2024, 5:11 pm

Eni is growing its international portfolio with the deal, including the UK.

Italian oil giant Eni (BIT: ENI) has completed its multibillion-dollar takeover of North Sea operator Neptune Energy.

The firm’s $4.9bn acquisition plan was unveiled in June, following months of speculation as Neptune’s private equity owners make an exit.

Eni has acquired the firm’s entire operation, save for Norway – which is going to Var Energi (itself part owned by Eni) through a separate deal – and the business in Germany, which has had its own carve-out.

The Italian major has a limited operation in the UK meaning there is no expected impact on the workforce at Neptune, covering around 200 people between Aberdeen and London.

However, the future of the top leadership team, reported to own 1% of the business and due for a whopping payday, led by executive chairman Sam Laidlaw, is unclear.

Eni said in June that it was taking on a “world class portfolio” covering Western Europe, North Africa, Indonesia and Australia.

In the UK, Eni is acquiring the Cygnus gas field, the flagship asset of Neptune Energy and one of the country’s most prolific gas fields.

Other notable assets include the recent Seagull tie-back to BP’s ETAP hub.

Prior to the deal, Neptune Energy was owned by China Investment Corporation, funds advised by Carlyle Group and CVC Capital Partners, and some management owners.

Eni is also gaining access to Neptune Energy’s recently-awarded carbon capture and storage (CCS) sites, having won a trio of awards during 2023’s licensing round.

CCS is a burgeoning area of interest for the Milan-headquartered firm, which runs the HyNet development in North-west England.

Eni itself won a licence award during last year’s CCS round for its Hewett gas field in the southern North Sea.

The ENI SpA logo sits on the company’s headquarters office building seen through trees in Rome, Italy,

Announcing the deal closure today, Eni pointed to assets it is acquiring internationally.

“The acquisition is strategic in terms of increased gas production in North Africa, where Eni consolidates its position as the leading international energy company, and in Northern Europe, where the transaction opens up new CCS opportunities.

“Eni regards CCS as a key lever in its decarbonization strategy and there are further possible synergies with the projects Neptune is pursuing in Norway and the Netherlands.”

Var Energi is acquiring stakes in 12 producing assets, three of which will be as operator.

The deal adds 67,000 barrels of daily production, and 265m to its 2P reserves.

Neptune Norway will operate as a fully-owned subsidiary of Var Energi and change its name to Var Energi Norge.

CEO Nick Walker said: “Var Energi is one of the fastest growing E&P companies in the world and is on track to nearly double production by end-2025. The acquisition of Neptune Norway is an important step to this end. Neptune Norway’s complementary assets and highly skilled organisation are a perfect fit to Vår Energi.

“We will work as one strong team, a company committed to delivering high value barrels from one of the most attractive oil and gas regions in the world with low cost and low emissions. The transaction is cash generative from day one supporting attractive and predictable dividends going forward.”
Posted at 31/1/2024 08:12 by la forge
Eni confirms decision to build bio-refinery in Livorno, Italy

By NS Energy Staff Writer 30 Jan 2024

The transformation of the Livorno industrial site, in line with previous successful conversions in Porto Marghera (2014) and Gela (2019), underscores Eni's commitment to its decarbonisation strategy

Eni has reaffirmed its commitment to constructing Italy’s third bio-refinery in Livorno. Initially disclosed in October 2022 and subsequently supported by an Environmental Impact Assessment (EIA) application in November 2022, the project is currently pending official approvals.

The comprehensive plan encompasses the establishment of three novel facilities dedicated to producing hydrogenated biofuels: a biogenic feedstock pre-treatment unit, a 500,000 tonnes/year Ecofining plant, and a facility designed for hydrogen production from methane gas.

The transformation of the Livorno industrial site, in line with previous successful conversions in Porto Marghera (2014) and Gela (2019), underscores Eni’s commitment to its decarbonisation strategy.

This strategy is geared towards attaining carbon neutrality by the year 2050 and boosting bio-refining capacity from the current 1.65 million tonnes per year to over 5 million tonnes per year by 2030.

Aligned with the strategic choice to convert the Livorno refinery, ensuring the site’s resilience in terms of both production and employment, Eni has ceased crude oil imports and commenced the closure of lubricants production lines and the Topping plant. Fuel distribution in the region will be ensured by importing finished and semi-finished products.

Preparatory activities for the construction of the three upcoming bio-refining plants are currently in progress, with construction slated to begin post-regulatory approval. The anticipated timeline for completion and commissioning is set for 2026.

The upcoming bio-refining plants are designed to process diverse biogenic feedstocks, primarily sourced from vegetable waste and residue, to generate HVO diesel, HVO naphtha, and bio-LPG. Eni, operating through Enilive, holds the position as the second-largest producer of hydrogenated biofuels (HVO) in Europe and the third-largest globally.

Eni’s growth strategy is propelled by the growing demand for biofuels in the mobility sector in Europe and Italy. This demand is fuelled by the need to meet emission reduction targets outlined in the recently sanctioned RED III (Renewable Energy Directive) and adhere to Italian regulations mandating the incorporation of pure biofuels. Projections indicate a 65% surge in global demand for hydrogenated biofuels from 2024 to 2028.
Posted at 10/11/2023 00:02 by pj84
This super-cheap oil stock is the toast of the world’s top ‘value’ investors

When a stock suddenly becomes more popular with the best-performing fund managers in the world, it’s worth a closer look.

This is what has happened to Eni, the Italian oil and gas giant, which has surged to a top AAA rating from Citywire Elite Companies, which rates stocks on the basis of their backing by the world’s top professional investors.

Seven of these fund managers – each among the top-performing 3pc of the 10,000 equity fund managers tracked by the financial publisher Citywire – own shares in Eni, which has climbed from the lowest + rating to AAA status in the past month.

What unites these investors, apart from their strong performance, is their style of “value” investing. Examine Eni in more detail and it’s clear why its shares are particularly appealing to them.

Even in an oil and gas sector where low valuations are the norm, Eni stands out for the cheapness of its shares. Compared with eight of its largest oil and gas rivals, Eni’s shares trade on the lowest price-to-earnings ratio of 6.6 times expected profits over the next 12 months. Its forecast dividend yield of 6.2pc, based on the expected dividend and the current share price, is meanwhile the highest.

By historic standards too, the shares’ valuation looks low. Valued according to forecast earnings, sales and free cash flows, the shares are trading towards the bottom of their 10-year range. But unlike many shares on rock-bottom valuations, Eni has been a very good investment over recent years. It is not a “falling knife”.

In sterling terms, since hitting a lockdown low almost exactly three years ago, the shares have clocked up a 200pc total return. Better-than-expected third-quarter results at the end of last month are cause for further optimism, even as rivals such as BP have disappointed.

Industry trends also look supportive. The American oil and gas “supermajors” ExxonMobil and Chevron, rated AAA and AA respectively by Citywire Elite Companies, both announced major deals last month. ExxonMobil is buying the shale group Pioneer Natural Resources for $60bn (£49bn) while Chevron has struck a $53bn deal to acquire the oil producer Hess. This may prove just the start of a long-anticipated wave of consolidation that could spread to Europe.

Eni’s acquisition record is less extravagant; the Italian government’s 30pc stake is a limiting factor. But a $4.9bn deal announced in June to buy Neptune Energy looks strategically sound. The takeover, which should complete early next year, will help Eni achieve a target of producing 60pc of output from gas by 2030. As gas produces fewer carbon emissions than oil, the European Commission has designated it a transition fuel, which will help underpin long-term demand.

Increasing gas production will also mean that Eni’s liquified natural gas (LNG) business becomes less reliant on third-party supplies, the risk of which has been brought home by Russia’s invasion of Ukraine.

Another opportunity for investors lies in potential divestments and in particular the mooted flotation of its green energy arm, Plenitude. Original plans for a listing were delayed last year as investors turned from hot to cold on renewable energy companies. Now Eni is considering selling a stake in the division before potentially floating it next year.

If successful, this could prove particularly beneficial for shareholders. That’s because one explanation for Eni’s low valuation is investors’ preference for oil companies that stick to their fossil-fuel roots and hand back excess cash to shareholders via dividends and share buybacks rather than spending it on expensive renewable energy projects.

Eni’s valuation of Plenitude suggests the bar is set low for the flotation to deliver value for shareholders. Outside investors could put a higher price on the business, which is working towards ambitious targets. Eni aims to increase renewable energy production from 2.2 gigawatts last year to 15 gigawatts by 2030 and 60 by 2050 and treble Plenitude’s earnings on the “Ebitda” (earnings before interest, tax, depreciation and amortisation) measure by €1.8bn by 2026.

While Eni is increasing spending, raising a four-year investment plan from €28bn to €37bn this year, those commitments are unlikely to threaten returns to shareholders. Net debt remains comfortably inside the target range of 10pc to 20pc of net assets, while Eni is committed to annual dividend increases and will continue to buy back shares with spare cash. Buybacks reduced the share count by 6pc in the 12 months to the end of September.

These cash returns should help support the shares, while Eni’s low valuation should mean it won’t take much to send them higher.
Posted at 08/11/2023 15:25 by waldron
Eni Nears $800 Million Sale of Renewables Unit Stake to EIP

Alberto Brambilla and Tommaso Ebhardt, Bloomberg News

(Bloomberg) -- Eni SpA is nearing an accord with Energy Infrastructure Partners AG to sell just under 10% of its Plenitude renewables unit for around €750 million ($800 million), according to people familiar with the matter.

Plenitude is set to be valued at about €8 billion in the deal, which could be announced by the end of this month, said the people, asking not to be named discussing private information. Talks are in the final stages but a definitive decision has not yet been reached, they said.

Italian oil and gas major Eni entered into talks with EIP, a Zurich-based fund, on a potential deal earlier this year, as it sought a partner for the unit in the run-up to a future stock market listing. Plenitude sells energy to households and businesses, produces renewable power, and runs electric-vehicle charging stations. It serves about 10 million retail clients across Europe, operating in 15 countries globally.

Read More: Eni Boosts Full-Year Guidance as Profit Beats Estimates

The sale of a stake could help Eni lock in the unit’s value while giving it more cash for investments, paving the way for an initial public offering as soon as next year. Eni Chief Executive Officer Claudio Descalzi acknowledged in late September that talks were ongoing with potential suitors for a stake in Plenitude.

Representatives for Eni and EIP both declined to comment.

Energy Crisis

The plan to list Plenitude was postponed last year with Europe in the throes of an energy crisis, but Eni still aims to proceed with the listing on the Euronext Milan exchange when market conditions permit, likely in 2024, Descalzi has said.

The current valuation for the unit is higher than the €6 billion to €7 billion the state-controlled energy firm considered setting for it in mid-2022, people familiar with the matter said at the time.

Milan-based Plenitude, which is targeting around €900 million in Ebitda for this year, was set up to pool Eni’s energy retailing and renewables businesses.

--With assistance from Tiago Ramos Alfaro and Paula Doenecke.
Posted at 28/7/2023 10:19 by grupo guitarlumber
‘ResilientR17; Eni beats analyst forecasts despite sharp drop in quarterly profits

Chief executive Descalzi noted another “excellentR21; performance of the major’s Gas and LNG division

28 July 2023 6:26 GMT Updated 28 July 2023 8:18 GMT

By Davide Ghilotti
in London

Italian oil major Eni posted a sharp decline in its latest quarterly profits, which fell nearly 50% but topped analysts' expectations.

Eni reported adjusted net profit of €1.94 billion ($2.14 billion), 49% down on the same time last year but above analysts' consensus of €1.64 billion.

Eni eyes new IPO for ‘$11 billion’ renewable energy unit Plenitude

Chief executive Claudio Descalzi spoke of a “less supportive environment” having characterised the business in the second quarter of the year, as lower oil and gas prices affected realised sales, and refining margins decreased.

“This resilience is significant after having successfully captured upside in the previous stronger scenario,” said Descalzi.

He highlighted an “excellentR21; result for the company’s gas and LNG division, GGP, which saw adjusted operating profits of €1.01 billion, against a €14 million loss last year.

Eni said the market continued to show “some degree of volatility and arbitrage opportunities”, which led to a positive contribution from GGP.

Meanwhile, E&P, the major’s single largest division, saw adjusted operating profits fall 58% in the period, to €2.07 billion.
Supermajor capital distribution takes centre stage amid expectations for smaller second quarter profits

The company confirmed its quarterly dividend increase to €0.94 per share from September, and maintained a share buyback programme of €2.2 billion that started in May.

In line with its peers, the major had to contend with falling oil and gas prices in the quarter, after the highs reached in 2022 amid energy shortage concerns in Europe that followed disruption of Russian piped gas flows.

Eni described a “highly robust” result despite a 30% decrease in crude oil prices, and a 60% decline in gas prices and refining margins in the period.

Total hydrocarbons production in the quarter rose 2% to 1.61 million barrels of oil equivalent per day.

Performance in E&P was affected by lower prices as well as the impact of the deconsolidation of Azule, the joint venture business which Eni set up with BP in Angola last year.

Eni’s renewables business, Plenitude, recorded an 18% increase in adjusted operating profit in the quarter against year-ago levels, to €165 million. Ramp-up of renewable energy installed capacity and production volumes contributed to the increase.

Algeria, Egypt, Indonesia, Norway: Neptune’s crown jewels changing hands with Eni takeover

In June, the Italian major and its Norwegian subsidiary, Vaar Energi, set out to acquire UK independent oil and gas producer Neptune Energy in a $4.9 billion deal, which is expected to conclude at the beginning of next year.

The takeover will bring Eni a widespread portfolio of gas-oriented operations in Western Europe, Indonesia, Australia and North Africa. Eni said the deal will allow Eni and Vaar to increase their total production plateau by over 100,000 boepd.

Earlier this month, Eni closed the acquisition of Chevron’s development and production assets IDD offshore Indonesia, where the Italian company was already a minority partner in the project.

Upstream is part of DN Media Group.
Posted at 11/5/2023 08:15 by ariane
News | May 10, 2023

Eni Publishes Eni For 2022, Outlining The Main Outcomes And Objectives In The Energy Transition Pathway

Milan Eni published Eni for 2022 – A just transition, the company’s voluntary sustainability report. It describes Eni’s contribution to a just transition that ensures access to efficient and sustainable energy, sharing the social and economic benefits of the path towards net zero emissions by 2050 with employees, suppliers, communities, and costumers with an inclusive and transparent approach.

“In addressing the challenges in the energy sector that Eni faces, we keep our priorities firmly on track with an ongoing commitment to promote energy access, local development, and environmental protection. The success of our strategy cannot be achieved without collaboration with our stakeholders, from private individuals to the public sector, international organizations, civil society associations, and research institutes. Today, more than ever, it is necessary to pool resources and human capital, through a broad vision that allows us to align our common goals, to reduce geographical gaps and promote global human progress”, said Claudio Descalzi, Eni’s Chief Executive Officer.

With regards to the carbon neutrality strategy, Eni remained firm in its commitments towards net zero emissions by 2050 and confirmed all its decarbonization targets, which are anchored on sound investments. The company achieved a 17% reduction in Scope 1, 2 and 3 emissions, compared to 2018 levels, and continued implementing the necessary measures to achieve Scope 1 and 2 net zero emissions in the Upstream by 2030, by investing in emission-reduction technologies and developing low-carbon projects. In this context, in 2023, Eni launched the FPSO that will be used for production from the Baleine field in Côte d’Ivoire, the most important discovery ever made in the country and the first net zero development for Scope 1 and 2 emissions in Africa.

In Eni’s strategy, the United Nations’ Sustainable Development Goals are a fundamental reference for conducting activities in the countries of operations. Agri-business projects, for example, embodies the fundamental pillars of Eni approach for the just transition, an energy transition with a strong innovative component combined with a concrete focus on the social dimension. In this context, Eni is committed to ensure that the decarbonization process offers opportunities to convert existing activities and develop new production chains with significant perspectives in the countries where it operates. In 2022, the first cargo of vegetable oil produced in Kenya not competing with the food production chain, from waste and raw materials produced on degraded land, was delivered to Eni’s biorefining plant in Gela, with substantial positive impacts on employment and local development. The model will be replicated in other countries

To achieve a just transition, particular attention was paid to initiatives to promote access to energy and education in the countries of operation. These include the projects in Côte d’Ivoire, Mozambique, and Ghana to facilitate access to clean cooking. In Côte d’Ivoire, more than 20,000 cooking stoves were distributed in just six months, reaching more than 100,000 beneficiaries. Eni has promoted the right to education in Congo, Ghana, Iraq, Mexico, Mozambique, and Egypt, where it opened the Zohr Applied Technology School to significantly increase the number of youths with upgraded technical and professional skills in the energy and technology fields.

Source: Eni
Posted at 03/2/2023 08:53 by florenceorbis
Eni : Plenitude returns to Sanremo in the name of the energy transition
02/02/2023 | 10:50am GMT

Milan, 2 February 2023 - The journey to improve energy efficiency at the Sanremo Festival, which Plenitude began in 2022 with Rai and Rai Pubblicità, continues today. The company is Partner of the 73rd edition of Italy's most important music event.

Plenitude's presence at Sanremo will focus on the energy transition and innovation. In the coming months, Plenitude will help powering the offices of the Ariston Theater with a photovoltaic system installed on the roof. This is the first intervention following studies carried out in 2022.

Many additional surprises can be expected during the Festival week: the return of the green carpet; an exclusive performance by internationally renowned composer Dardust; the "Feeling the Energy" installation at Forte Santa Tecla; and a series of events organised in collaboration with Comehome.

Stefano Goberti, CEO of Plenitude, said: "We are proud to be a partner of the Sanremo Festival again this year, and to bring a concrete contribution in terms of energy efficiency and sustainability as part of the decarbonization plan for such an important event.

We will continue along the path we set out together last year, telling the story of a transformation that sees Plenitude as an outpost of Eni's decarbonization strategy, with the aim of creating value through the energy transition and achieving carbon neutrality by 2040, providing 100% decarbonized energy to all our customers."

Rai and Rai Pubblicità, in collaboration with Plenitude, will once again bring to Sanremo the green carpet to connect all the main areas of the event and serve as a backdrop to the parade of the many Festival guests. Measuring 300 metres, the carpet will be made of real grass that will be reused after the event to contribute to green enhancements across the city of Sanremo.

A number of photovoltaic panels will be installed along the carpet. The energy they accumulate will help power the carpet's lights, together with small wind turbines and charging stations for electric mobility, representing Plenitude's commitment to the energy transition.

While waiting for the opening of Italy's most important music event of the year, on Sunday, February 5th, at Forte Santa Tecla, Plenitude will organize a spectacular performance dedicated to the theme of nature and music, powered by energy and technology.

"The Blooming Symphony" will be a show featuring Dardust, internationally renowned musician and music producer collaborating with some of the best-known names in Italian music. He will be playing "the rhythm of nature" with tracks produced thanks to electrical impulses emitted by plants and flowers. Plants Play devices, developed by the namesake Italian company, can detect electrical variations through sensors placed on leaves and stems, processing the signal and converting it into notes, so as to create a real musical composition.

Plenitude will also organize an exhibition at Forte Santa Tecla to reiterate its commitment to sustainability and energy efficiency. This is the installation "Feeling the Energy," originally created for FuoriSalone 2022 by international design and innovation studio CRA - Carlo Ratti Associati with the support of Italo Rota. The installation emphasizes the importance of collaboration between people: thanks to the synergy between human beings and nature, we come to the production of vital energy that powers our planet every day.

Finally, Plenitude has chosen Comehome, a digital platform dedicated to the organization of events with a community of more than 300,000 users, with the goal of fostering a sense of community and enhance the experience of people watching the Sanremo Festival together. Users will have the opportunity to organize listening groups or to participate, through the platform, in one of the events organized in Milan's Plenitude Flagship Store in Corso Buenos Aires 3, which, for the occasion, will be transformed into a real living room where to experience and comment on the show together with various guests and talent.

Plenitude is Eni's Benefit Corporation (Società Benefit) integrating the production of energy from 100% renewable sources, the sale of energy services and an extensive network of charging points for electric vehicles. The company currently supplies energy to about 10 million European customers in the retail market and aims to reach more than 11 million customers by 2025 and to install more than 30,000 charging points for electric mobility. The company also plans to exceed 15 GW of installed capacity by 2030 and achieve carbon neutrality by 2040.


Eni S.p.A. published this content on 02 February 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 02 February 2023 10:49:10 UTC.
Posted at 20/10/2022 06:24 by grupo guitarlumber
Eni considers the possibility of building a third bio-refinery in Livorno

Oil & GasDownstreamRefinery

By NS Energy Staff Writer 18 Oct 2022

The construction of the new bio-refinery – located in an industrial area which houses fuel and lubricant production facilities – would maximise synergies from the infrastructure already available and secure the site's future as an employment and production hub

Eni considers the possibility of building a third bio-refinery in Livorno. (Credit: ENI)

Eni met with the president of Tuscany, Eugenio Giani, and the mayors of Livorno, Luca Salvetti, and Collesalvetti, Adelio Antolini, to confirm that the company is investigating the opportunity to build a new bio-refinery at Eni’s industrial site in Livorno.

The feasibility study involves building three new plants for the production of hydrogenated biofuel: a biogenic feedstock pre-treatment unit, a 500,000 tonne/year Ecofining plant and a plant for the production of hydrogen from methane gas.

The construction of the new bio-refinery – located in an industrial area which houses fuel and lubricant production facilities – would maximise synergies from the infrastructure already available and secure the site’s future as an employment and production hub.

Giuseppe Ricci, Chief Operating Officer of Eni’s Energy Evolution said: “We are working to reach an important milestone in Eni’s decarbonization strategy and the path we undertook many years ago, with the transformation of the first refinery in Venice into a bio-refinery back in 2014. The coexistence of bio and traditional plants has been successfully tested with the recent production of Eni Biojet in Livorno, the first SAF (Sustainable Aviation Fuel) exclusively from waste raw materials, animal fats and used vegetable oils thanks to the synergy with Eni’s bio-refinery in Gela. Our goal is to increase the availability of decarbonized and sustainable products to our customers and to meet our scope 3 emission reduction targets.”

The president of Tuscany, Eugenio Giani, said: “I wish to express my deep appreciation for Eni’s decision to investigate the conversion of the Livorno refinery into a bio-refinery, focusing on a sustainable energy transition both in terms of the environment and the outlet market. The technological innovation and size of the investment, as well as the plant synergies between new and previous production activities, open up a real pathway for development that maintains the current workforce and the entire production chain. These are forward-looking choices, compatible with the area in which these projects are located, and which will also benefit from the infrastructural competitiveness generated by the modernisation of the port of Livorno with the Europa dock”.

Livorno mayor Luca Salvetti said: “During these three years in office, the identification of clear industrial and employment prospects for the Eni refinery in Stagno has seen our constant commitment alongside institutions, trade unions and the company, with the goal of giving the plant a future and certainty to its workers.

I am very pleased to see how the efforts of all parties have led to the establishment of a virtuous path that we hope will lead to the construction of a new bio-refinery, a project that combines industrial goals, environmental compatibility and stability of employment. We have been actively involved in this process, and in March of this year we sat at the table called for by the Ministry of Economic Development alongside the company’s top management, President Giani, and workers’ representatives. That commitment is now beginning to bear fruit and the way forward is outlined.

Work is, and will always remain, at the heart of the goals of this administration, which is ready to provide a stable and collaborative institutional partner to all those involved on this front in the future”.

Collesalvetti mayor Adelio Antolini said: “The construction of a bio-refinery inside the Eni plant in Stagno – a proposal that I and mayor Luca Salvetti first put forward in a press conference in January 2021 as a suitable solution for our territory both in terms of maintaining skilled jobs and preserving the environment – is now becoming a reality. This study is already an achievement and a commitment to future development with Eni’s investment at a high level of technical innovation. A good team effort by Eni and Tuscany with the municipalities of Livorno and Collesalvetti”.

Eni is the second-largest biofuel producer in Europe with 1.1 million tonnes/year and targets to increase the share to 2 million by 2025 and to 6 million in the next decade. Its bio-refineries in Venice and Gela transform waste raw materials, residues and waste resulting from the processing of vegetable products and oils from crops that do not compete with the food chain into high-quality biofuel – biodiesel, but also bio-LPG and bio-Naphtha, also for use in the chemical industry.

From 2023, Eni will no longer process palm oil and will make available pure hydrogenated biofuel containing a 100%-biogenic component, which can reduce GHG (GreenHouse Gas) Well to Wheel by up to 90%, i.e. along the entire logistics and production chain, up to its final use.

The design of the three new plants in Livorno will be completed by 2023 and construction could take place by 2025.

The transformation plan for the Livorno refinery will be discussed with local institutions and trade unions within the framework of a participatory and inclusive industrial relations model.

Source: Company Press Release
Edin. New It share price data is direct from the London Stock Exchange

Your Recent History

Delayed Upgrade Clock