Eni

About Eni

Eni is a global energy company, a titan born from the ashes of post-war Italy with a mission to fuel a nation's recovery. Today, it's a "supermajor," operating across the entire energy spectrum—from oil and gas exploration to refining, and increasingly, to renewables and sustainable mobility. Its work matters because it powers economies and is now navigating the critical shift to a lower-carbon future. The story of Eni is inseparable from its founder, Enrico Mattei. In 1945, Mattei, a former resistance fighter, was tasked with liquidating Agip, Italy's state petroleum agency. Instead, he saw its potential. Defying his orders, Mattei invested in exploration and discovered significant natural gas reserves in the Po Valley. This success convinced the Italian government to establish a new national energy entity. On February 10, 1953, Ente Nazionale Idrocarburi, or Eni, was born with Mattei as its chairman. Mattei wasn't just building a company; he was challenging an entire world order. He famously coined the term "Seven Sisters" for the Anglo-American oil cartel and created the "Mattei Formula," a partnership model that offered oil-producing nations far more equitable terms. This strategy allowed Eni to secure crucial energy supplies from North Africa and the Middle East, breaking the majors' dominance. For decades, Eni operated as a powerful state-owned entity, expanding its reach globally. In 1995, the company was transformed into a joint-stock company and listed on the stock exchange, beginning its privatization process. This opened the door to private shareholders, though the Italian government retains a significant stake. Today, Eni is tackling the energy transition head-on. The company has established satellite entities like Plenitude for renewable energy and retail, and Enilive for biofuels and sustainable mobility, to attract investment and accelerate growth in these new sectors. While still a major player in hydrocarbons, Eni is investing billions to convert refineries, scale up biofuel production, and expand its renewable energy capacity, charting a course toward carbon neutrality by 2050.