Eni Fact Book 2019 Mission
We are an energy company.
We concretely support a just energy transition,
with the objective of preserving our planet
and promoting an efficient and sustainable access to energy for all.
Our work is based on passion and innovation,
on our unique strengths and skills, on the equal dignity of each person, recognizing diversity as a key value for human development,
on the responsibility, integrity and transparency of our actions.
We believe in the value of long-term partnerships with the Countries and communities where we operate, bringing long-lasting prosperity for all.
The new mission represents more explicitly the Eni’s path to face the global challenges, contributing to achieve the SDGs determined by the UN in order to clearly address the actions to be implemented by all the involved players.
THE SUSTAINABLE DEVELOPMENT GOALS Global goals for a sustainable development The 2030 Agenda for Sustainable Development, presented in September 2015, identi es the 17 Sustainable Development Goals (SDGs) which represent the common targets of sustainable development on the current complex social problems. These goals are an important reference for the international community and Eni in managing activities in those Countries in which it operates. Eni Fact Book 2019
Eni’s Fact Book is a supplement to Eni’s Annual Report and is designed to provide supplemental nancial and operating information. It contains certain forward-looking statements regarding capital expenditure, dividends, buy-back programs, allocation of future cash ow from operations, evolution of nancial structure, future operating performance, targets of production and sale growth, execution of projects. By their nature, forward-looking statements involve risks and uncertainties because they relate to events and depend on circumstances that will or may occur in the future. Actual results may dier from those expressed in such statements, depending on a variety of factors, including the timing of bringing new Oil & Gas elds on stream; management’s ability in carrying out industrial plans and in succeeding in commercial transactions; future levels of industry product supply; demand and pricing of oil, gas and re ned products; operational problems; general economic conditions; geopolitical factors including international tensions, social and political instability, changes in the economic and legal frameworks in Eni’s Countries of operations, regulation of the Oil & Gas industry, power generation and environmental eld, development and use of new technologies; changes in public expectations and other changes in business conditions; the actions of competitors.
Contents
Eni at a glance 4 Main data 6 Exploration & Production 11 Gas & Power 61 Refining & Marketing and Chemicals 70 Focus on Renewables and Circular Economy 85
TABLES
Financial data 88 Employees 105 Quarterly information 106 4 ENI AT A GLANCE
Eni at a glance
Eni is an integrated energy company with excellent fundamentals, able portfolio through geographical diversification thanks to the to generating returns at the top of the industry, thanks to a progressively expansion in the Middle East both in the upstream segment and reduced cash neutrality. Looking forward, our Company will by driven by refining business, the growth in Egypt and Indonesia, the global our decarbonization strategy which will combine the continuing growth development of the LNG business, as well as the upgrading of the of the business in the ever evolving energy market with an expected production platform in Norway with the Vår Energi transaction significant reduction in our carbon footprint thus actively contributing and the subsequent purchase of the ExxonMobil assets by the to the ongoing decarbonization path of the mankind and supporting the JV. The strategic repositioning of R&M and Versalis in the green achievement of the goals of the Paris Agreement. business and the circular economy has been set with the start-up of the Gela bio-refinery and the launch of a new line of polymers In 2019, Eni achieved excellent results, enhancing the business from mechanical recycling of used plastics.
ENI'S GROUP 2019 2018 2017 2016 2015 2014
Adjusted operating profit (loss) (€ million) 8,597 11,240 5,803 2,315 5,708 12,337
Adjusted net profit (loss) 2,876 4,583 2,379 (340) 803 3,723
Net cash flow from operating activities 12,392 13,647 10,117 7,673 12,875 14,469
Net borrowings at year end before IFRS 16 11,477 8,289 10,916 14,776 16,871 13,685
GHG emissions/100% operated hydrocarbon (tonnes CO eq/kboe) 19.58 21.44 22.75 23.56 25.32 26.83 gross production - upstream 2
The traditional Oil & Gas business is now more solid also thanks to PS S D (tonCO2eq/kboe) S S S S S D S the acceleration of the decarbonization path with the reduction of the (€ bln) (€ bln) ($/bbl) (€ bln) 4.4 upstream GHG emission intensity at a 6% rate per year from the 2014 -27% -16% 114 26.8 +40% 3.5 3.4* baseline (down by a cumulative 26% in the period), the development of 25.3 2.9 2.9 3.0 23.6 55 22.7 21.4 the business of power generation from renewable sources in synergy 19.6 with asset portfolio, the bio-conversion of refineries, the launch of green 20 i io i t e st 6 e rs chemistry and circular economy projects based on the use of sustainable raw materials, the recycling/reuse of waste (organic and non-organic) 2014 2015 2016 2017 2018 2019 FY 2014 FY 2019 FY 2014 FY 2019 FY 2014 FY 2019 2014 2015 2016 2017 2018 2019 and, finally, with the launch of the forestry conservation initiatives, Brent $/bbl 99 64.3 (*) Includes €400 million of buy-back in 2019. complementary to the low carbon strategy. All these factors negatively affected the demand of commodities and These positive results were reported in a challenging operating and the global consumption of fuels and plastic feedstocks, boosting the trading environment, due to the slowdown in global macroeconomic negative impact of the oil and gas oversupply in the upstream, the cycle, the reduction in international trade, as well as the adverse competitive pressure from producers with lower cost structure and geopolitical developments. the overcapacity in the refining and chemical sector.