On February the 10th 1953 Eni, Ente Nazionale Idrocarburi, was established with Enrico Mattei as the first Chairman. Through the law of 1953 Eni, that was a public company held by the Italian government, became the monopolist in research and production of hydrocarbons in Italy. It had the control of Agip, Anic and Snam and then it acquired also Lanerossi, a textile industry, and some chemical and engineering industries like SIR, Liquichimica, Nuovo Pignone, that would have been fundamental in future non-oil activities. During the late 50’s and the 60’s Eni signed agreements and joint ventures with many European and extra-European governments for setting facilities and importing natural gas. Among them there were Iran, Libya, Ethiopia, Somalia and URSS. In 1971 Eni together with URSS and Netherlands decided to construct a gas pipeline to transport natural gas in Italy from the two states. Agip developed a new technology: floating platforms offshore Congo. During the 1973-74 oil crisis, Eni had the opportunity to face the oil embargo adequately identifying natural gas as an alternative energy source. In the same years, Agip acquired Shell’s network of distributors in Italy. During the 80’s Eni’s aim to create a unique chemical company was achieved by the foundation of Enimont (1989). On July the 11th 1992 Eni, undergoing to a privatization process, became a stock company; but the Italian government still maintained its power according to the principle of the Golden share. In the 90’s the company signed agreements for oil exploration in Algeria, Kazakhstan, China, Angola, Russia, Azerbaijan (Caspian sea), Nigeria, Egypt. In 1998 Eni incorporated Agip thus stressing its core business; as a consequence, the company became the fourth issue on the world's leading stock markets. In 1999 it signed an agreement for the Blue Stream Project, a gas pipeline whose purpose was to connect the Russian coast on the Black Sea to Turkey. With the beginning of the new millennium, Eni merged with SNAM: The new Gas & Power division started to manage gas and power activities in Italy and abroad. In 2003 it merged with Agip Petroli and in the following years started again upstream and exploration activities in Saudi Arabia, Northern Alaska and India. Vision Eni’s purposes for the future years focus on growth in core business as well as on the integration of core activities, on the pursue of greater operating efficiency and on the development of proprietary technologies, in order to maximize the return for its shareholders.
Given the complexity of the situations in which ENI operates, the challenges of sustainable development and the need to take into consideration the interests of all stakeholders, the new “Eni’s Code of Ethics” has been instituted. The Code coordinates all relationships occurring between the company and its stakeholders, in order to achieve efficiency, reliability and good reputation. An expectation common to all stakeholders is that of increasing their welfare and this, together with the creation of value for them, is exactly one of the key Corporate objectives. Eni’s main stakeholders are: equity holders, local communities, customers, suppliers, employees, institutional partners, competitors, insurance companies and the Italian government.
CORE STAKEHOLDERSCONTRIBUTIONSREWARDS EXPECTED
EQUITY HOLDERS (*)Risk capital and competenceDividends and capital gains (or losses). Participation in...