Exploration and reserve replacement being major drivers for the company, Eni boosts production additions in its core oil field areas (North and Sub-Saharan Africa, Venezuela, Barents Sea, Yamal Peninsula, Kazakhstan, Iraq and the Far East). The company launched a new strategy that will enable it to provide a variety of fully decarbonized products, with main levers including the merger of renewable and retail businesses in Plenitude, the development of bio-refineries and biomethane production, and the sale of low-carbon energy carriers and mobility services at service stations.
Cyborg Score Rationale
Eni is the largest petroleum company in Italy, the second largest based in the European Union (after TotalEnergies), and the 13th largest in the world. The company benefits from diversified revenue streams across oil, gas, renewables, and emerging green businesses, supported by strong operational capacity and strategic energy transition investments.
Top Insights
In 2024, the company produced 0.8 million barrels of liquids and 4.8 billion cubic feet of natural gas per day
The Italian government owns a 30.5% golden share in the company, 1.99% held through the Ministry of Economy and Finance and 28.5% through the Cassa Depositi e Prestiti
On 13 February 2025, Eni announced its Formula One return by supplying fuels to Renault-powered BWT Alpine F1 Team from 2025 season onwards
Plenitude is present in the market with a unique business model integrating production from renewables, the sale of energy, energy solutions and a large network of charging points for electric vehicles
Named Competitors
TotalEnergies — European supermajor with global oil, gas and renewables operations
Exxon Mobil — Global integrated energy company
Chevron — Large integrated oil and gas company
Repsol — Spanish multinational oil and gas company
Equinor — Norwegian energy company with renewables focus
Recent Developments
(February 2025) Announced Formula One return as fuel supplier to BWT Alpine F1 Team
(July 2024) New oil and gas discovery in Block 9 of the Yopaat-1 well off Mexico
(March 2024) Made discoveries off the Ivory Coast
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