Refining & Marketing

In Refining & Marketing, Eni intends to restore profitability despite of the continuous worsening of the scenario, which in 2013 saw the fall of the refining margins to an unprecedented level.

In the refining activities, gradual recovery will be supported by:

• the projects of rationalizations and processes reconversion, resulting in a 22% cut of existing refining capacity during the four-year period;
• higher flexibility, process integration, as well as
• efficiency improvement and energy saving projects.

In marketing operations, management intends to strengthen Eni’s presence in the retail fuels market by means of:

• achievement of higher efficiency results;
• development of non-oil operations; and
• enhancement of LPG and methane distribution.

In the wholesale business, Eni intends to capture opportunities deriving from the closing of third-parties’ refineries, in order to safeguard its position. Finally, Eni will launch innovative activities such as the development of new products (LNG in automotive segment) and innovative services (smart mobility).

Based on these initiatives, in the 2014-2017 four-year period Eni expects to increase its adjusted EBIT under constant scenario assumptions for refining and marketing (base 2013) of more than €0.7 billion.