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| Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
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| Edin. New It | LSE:ENI | London | Ordinary Share | GB00B084LP54 | ORD 1P |
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| 0.00 | 0.00% | 62.00 | 0.00 | 01:00:00 |
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| Date | Time | Title | Posts |
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| 08/3/2024 | 09:23 | ENI S.P.A. Italian OIL Company | 355 |
| 21/1/2006 | 07:30 | Edinburgh New Income | - |
| 19/3/2003 | 19:52 | Enic - Large buys or sells? | 3 |
| 21/3/2002 | 18:11 | Enic not yet tracking AU. | 21 |
| 07/12/2000 | 15:11 | Undervalued with the rise in AU. | 4 |
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Posted at 31/1/2024 19:16 by waldron ENERGYVOICEEni 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. CCS 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.” Norway 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, ItalyBy 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’ investorsWhen 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&r 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 EIPAlberto 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 31/7/2023 06:23 by adrian j boris Eni Logs 92 Percent Fall in Quarterly Profit Year on Yearby Jov Onsat | Rigzone Staff | Monday, July 31, 2023 Eni SPA has reported $324 million (EUR 294 million) in net income for the second quarter, down 92 percent against the same period 2022 on lower oil and gas prices. Despite weaker prices, the Italian global energy giant expects to raise production in the third quarter to 1.63 million barrels of oil equivalent a day (MMboed) from an achieved output of 1.611 MMboed in the three months ended June, according to its results report Friday. For the full year Eni plans output at 1.63-1.67 MMboed if prices average $80 per barrel. In the second quarter, "production was supported by the ramp-up in Mozambique and Mexico, higher activity in Algeria, which also benefited from the business acquisition, in Kazakhstan due to unplanned events occurred in the same period of 2022, as well as in Indonesia and Iraq", it said. "These increases were offset by planned maintenance activities, particularly in Libya, and lower production due to mature fields decline." Eni earlier said it had completed the purchase of BP's operation in Algeria. The two acquired gas concessions would add about 130,000 boed this year "further confirming the company's position as the main international energy company operating in the country", it said February 28. If adjusted for non-recurring costs, the state-controlled company's net earnings totaled $2.1 billion (EUR 1.935 billion) for the second quarter, down 49 percent by year-ago comparison. Adjusted first half net profit decreased 32 percent at $5.3 billion (EUR 4.842 billion). Eni collected $8.2 billion (EUR 7.425 billion) in net cash from operations for January-June 2023, up two percent compared to the first two quarters of last year. Free cash flow stood at $1.4 billion (EUR 1.276 billion) by the end of the second quarter, while net debt after lease liabilities stood at $14.3 billion (EUR 12.941 billion). The second quarter of 2023 presented a "less supportive environment", chief executive Claudio Descalzi said in a statement. Eni saw a 28 percent year-on-year decline in realized prices for hydrocarbons at $53.31 per barrel of oil equivalent. Refining margins, or the difference in value between refinery output and input, plunged 62 percent at $6.6 per barrel compared to $17.2 in the same quarter a year ago. "Refining margins decreased materially driven by lower demand for all kinds of refined products particularly gasoil reflecting weak industrial activity and ample supplies", it said. Last year Eni achieved a company record collecting $22.5 billion (EUR 20.386 billion) in adjusted operating income. " This performance was driven by the E&P [exploration and production] segment due to a strong recovery in commodity prices, by the GGP [global gas portfolio] segment leveraging on continuing optimization across the flexible gas and LNG portfolio, as well as by the R&M [refining and marketing] business due to plant availability and cost and output optimization allowing to capture the upside of a strong refining environment", the company said in its annual report released January 26, noting an upward pull on prices by the Russia-Ukraine war. Annual average prices for the North Sea-based Brent and the West Texas Intermediate, which are global benchmarks for spot crude, in 2022 were the highest since 2014, according to data from the USA Energy Information Administration (EIA). That of the Henry Hub distribution center in Louisiana state, an international standard for gas pricing, was the highest since 2009, according to the EIA database. While noting a weaker business environment in the second quarter of 2023, Descalzi said, "Considering our first half results and continuing business performance that drives raised guidance, we have a solid position from which to pay our first quarterly installment of the raised €0.94 [$1] per share 2023 dividend in September and continue our €2.2 bln [$2.4 billion] buyback which commenced in May". Eni plans to limit capital spending to below $9.9 billion (EUR 9 billion) this year. Capital expenditure has now been revised twice from $10.5 billion (EUR 9.5 billion) originally, due to "continuing optimization and efficiency measures", Eni said. It targets to hit 700 MMboe in exploration in 2023. Eni closed the week 0.52 percent lower at $15 (EUR 13.66) on the Millan stock exchange but 0.43 percent higher at $30.18 in New York. To contact the author, email jov.onsat@rigzone.co |
Posted at 28/7/2023 10:19 by grupo guitarlumber ‘ResilientRChief executive Descalzi noted another “excellentR 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 “excellentR Eni said the market continued to show “some degree of volatility and arbitrage opportunities” 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, 2023Eni 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 18/2/2023 06:54 by la forge Eni Sustainable Mobility, PBF partner for St. Bernard biorefinery in USBy NS Energy Staff Writer 17 Feb 2023 PBF will contribute its industrial know-how to the facility and will also manage the project execution and serve as the operator after the construction is complete, while the biorefinery will use Eni’s Ecofining process tasos-mansour-NRfNe4 Eni Sustainable Mobility, PBF enter JV agreement. (Credit: Tasos Mansour on Unsplash) Eni’s subsidiary Eni Sustainable Mobility and US-based petroleum refineries company PBF Energy have signed an agreement to form a joint venture, dubbed St. Bernard Biorefinery (SBR). The joint venture will develop the biorefinery that is currently under construction and co-located with PBF’s Chalmette Refinery in Louisiana, US. Under the terms of the agreement, Eni Sustainable Mobility will contribute a total of $835m in the capital, along with additional milestones payments totalling up to $50m. The partnership will leverage the experience and expertise of both Eni Sustainable Mobility and PBF, for the development of St. Bernard biorefinery. PBF will contribute its industrial know-how to the facility and will continue to manage project execution and serve as the operator after the construction is complete. The biorefinery will also use the Ecofining process, which Eni has developed in partnership with Honeywell UOP, along with Eni’s experience in biorefining. Eni Sustainable Mobility CEO Stefano Ballista said: “Eni Sustainable Mobility is a pioneer in the biorefining industry, and it is also studying the possible construction of two new biorefineries in Italy and Malaysia. “We do believe the role of HVO will strongly contribute to decarbonization of road transports, including hard to abate heavy-duty sector, as it leverages existing infrastructure and can immediately fuel existing vehicle fleets. “Biofuels are part of Eni’s strategy to achieve carbon neutrality by 2050 through the reduction of the emissions generated during the entire products life cycle.” The St. Bernard Renewables biorefinery will have the capacity to process about 1.1 million tonnes of raw materials a year, with full pre-treatment capabilities. It is expected to commence commercial operations in the first half of this year. The biorefinery will primarily produce Hydrotreated Vegetable Oil (HVO) Diesel, commonly known as renewable diesel, with a production capacity of 306 million gallons per year. The joint venture, SBR, will operate as an independent entity with a dedicated team managing feed procurement and product distribution. PBF president Matthew Lucey said: “We’re excited to enter this strategic partnership with Eni Sustainable Mobility, a global leader in biorefining. The SBR biorefinery will benefit greatly from PBF and Eni’s complementary strengths and expertise. “The project will utilise existing processing infrastructure and diverse inbound and outbound logistics and is ideally situated to support growing demand for low-carbon fuels. “Our partnership with Eni signals a major milestone for PBF and demonstrates our commitment to contributing diversified sources of energy to the global mix while lowering the carbon intensity of our operations and the products we manufacture.” |
Posted at 03/2/2023 08:53 by florenceorbis Eni : Plenitude returns to Sanremo in the name of the energy transition02/02/2023 | 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. Disclaimer 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 LivornoOil & GasDownstreamRefiner 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 Livorno-Bioraffineri 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 |
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