Capital expenditure

In 2013, capital expenditure in the Refining & Marketing Division amounted to €619 million and regarded mainly: (i) refining, supply and logistics in Italy and outside Italy (€444 million), with projects designed to improve the conversion rate and flexibility of refineries, in particular the Sannazzaro Refinery, as well as expenditure on health, safety and environmental upgrades; (ii) upgrading and rebranding of the refined product retail network in Italy (€107 million) and in the Rest of Europe (€68 million). Overall in the year, expenditure in health, safety and environment amounted to €105 million.