S&P Capital IQ Initiates Coverage on ENI S.P.A. ADS. in Standard & Poor’s
Factual Stock Reports
NEW YORK -- January 31, 2013
S&P Capital IQ announced today that it has commenced Standard & Poor’s Factual
Stock Report coverage on Eni SpA.
Eni SpA (NYSE: E), an integrated energy company, engages in oil and gas
exploration & production, international gas transportation and marketing,
power generation, refining and marketing, petrochemicals and oilfield
services. The company is also engaged in the transportation, distribution and
storage of gas in Italy through Snam SpA (Eni's interest being 20.22%). In
2011, Snam SpA has been identified by the company as a non-core asset and on
May 30, 2012, Eni announced the sale of a 30% controlling stake in Snam Spa.
The transaction was completed.
Exploration & Production (E&P) is Eni's largest division, accounting for
approximately $52.5 billion of 2011 net capital employed.
In 2011, Eni reported liquids and gas production of 1,581 kboe/d which was
affected by the temporary shutdown of the company's activities in Libya.
Excluding the impact of events in Libya and lower entitlements in the
company's PSAs due to higher oil prices, production was in line with 2010
(1,815 kboe/d). In 2011, the division accounted for $22 billion out of the
company's overall adjusted operating profits of $25 billion.
The Gas & Power (G&P) division is engaged in supply, transport, distribution
and sale of natural gas. It buys gas, mainly from long-term suppliers such as
Russia's Gazprom, Algeria's Sonatrach and others, but also equity gas from
E&P. It transports gas through international pipelines and markets the gas,
leveraging on a leading position in Europe, and transforms a portion of it
Eni has a relatively small Refining & Marketing business (R&M), with around
750kboe/d of refining capacity, and over 6,000 service stations, of which the
majority in Italy.
The company operates in Engineering, Construction & Drilling (offshore &
onshore) for the oil & gas industry through Saipem, a 43% owned subsidiary.
Saipem is well positioned in the market of large, complex projects for the
development of offshore hydrocarbon fields leveraging on its technical and
Eni also owns & operates Versalis, a petrochemical company with a wide
portfolio of petrochemical products.
Eni is active in 85 countries with 79,000 employees.
Standard & Poor’s Factual Stock Report coverage on Eni SpA will also be
accessible on an ongoing basis to the investment community by scores of
buy-side institutions and sell-side firms that utilize S&P Capital IQ research
and information platforms daily. Millions of self-directed investors also have
access to the report via their e-brokerage accounts. Please visit
-http://www.eni.com for additional information.
About Standard & Poor's Factual Stock Reports
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does not trade on its own account.
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