Eni SpA (E) confirmed its decision to establish Italy’s third bio-refinery in Livorno, marking a significant step in the company’s commitment to decarbonization and meeting ambitious environmental targets.Eni is set to convert its existing 84,000-barrel-per-day conventional crude oil refinery in Livorno into Italy's third biorefinery. The Livorno refinery’s transformation aligns with the company’s broader goal of achieving carbon neutrality by 2050 and increasing its bio-refining capacity from 1.65 million ...

Eni S.p.A. (NYSE:E) Q3 2023 Earnings Conference Call October 27, 2023 8:00 AM ET Cristian Signoretto - Deputy Chief Operating Officer, Natural Resources Stefano Ballista - Chief Executive Officer, Eni Sustainable Mobility Conference Call Participants Oswald Clint - Bernstein Michele Della Vigna - Goldman Sachs Massimo Bonisoli - Equita Welcome to Eni's 2023 Third Quarter Results Conference Call hosted by Mr. Francesco Gattei, Chief Financial Officer. For the duration of the call, you will be in listen-only ...

Eni S.p.A. (NYSE:E) Q2 2023 Earnings Conference Call July 28, 2023 8:00 AM ET Claudio Descalzi – Chief Executive Officer Cristian Signoretto – Deputy Chief Operating Officer-Natural Resources Conference Call Participants Oswald Clint – Bernstein Alastair Syme – Citi Henri Patricot – UBS Martijn Rats – Morgan Stanley Bertrand Hodee – Kepler Cheuvreux Operator Company Participants Guido Brusco – Chief Operating Officer-Natural Resources Francesco Gattei – Chief Financial Officer Biraj Borkhataria – RBC Alessa ...

Baleine FPSO in Côte d'Ivoire 2 This document contains forward-looking statements regarding future events and the future results of Eni that are based on current expectations, estimates, forecasts, and projections about the industries in which Eni operates and the beliefs and assumptions of the management of Eni. In addition, Eni's management may make forwardlooking statements orally to analysts, investors, representatives of the media and others. In particular, among other statements, certain statements wi ...

Financial Data and Key Metrics Changes - Adjusted net profit increased by 17% quarter-over-quarter to €2.9 billion despite an 8% decline in oil prices and a significant drop in gas prices [10] - Cash flow from operations was notably strong at €5.3 billion, only 6% lower year-on-year and nearly 30% higher compared to the last quarter of 2022 [20] - Net debt remained flat at a historically low level, indicating financial resilience and flexibility [12] Business Line Data and Key Metrics Changes - The upstream segment showed resilient profitability, with production flat year-on-year but up 2.4% sequentially, aligning with guidance for 2023 [22][23] - GGP (Gas and Power) achieved record EBIT, benefiting from market volatility and strong performance despite lower gas prices [63] - Downstream performance was impacted by high levels of planned refinery maintenance, but sustainable mobility and trading contributed positively [54] Market Data and Key Metrics Changes - The European gas market is expected to be less critical this summer compared to the previous year, with higher storage capacity easing price pressures [45] - The company anticipates more volatility in the winter due to unpredictable weather conditions [46] - The Italian and European markets are seeing a shift towards biofuels, with mandatory quantities increasing annually [32] Company Strategy and Development Direction - The company is focusing on biofuel investments in Europe and the U.S., with plans to expand into the Far East [2] - A joint venture with PBF Energy aims to establish a biorefinery in Louisiana, contributing to a target of over 3 million tonnes of biorefinery capacity by 2025 [39] - M&A activity is a key part of the strategy, with recent acquisitions aimed at enhancing portfolio value and sustainability [40] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the company's ability to adapt to changing market conditions, particularly in the gas sector following the loss of Russian supply [46][120] - The outlook for GGP remains strong, with expectations for continued profitability despite market volatility [76] - The company is on track to achieve a 50% replacement of Russian gas by 2022-2023 and aims for 80% by 2023-2024 [46] Other Important Information - The Livorno lubricant refinery is undergoing maintenance, with plans to transform it into a biorefinery [14] - The company confirmed a buyback plan of €2.2 billion and an increase in dividends to €0.94 per share [31] - The company is targeting a shift in production mix to 60% gas by 2030, with ongoing projects in various regions [65] Q&A Session Summary Question: Can you provide insights on cash flow guidance and underlying performance? - Management confirmed that cash flow from operations is improving, with a reduction in expected negative impacts from gas prices and foreign exchange rates [4][5] Question: What is the status of new gas opportunities in Cyprus and Australia? - Management indicated that recoverable volumes from Cyprus are still being assessed, with potential for new gas opportunities in the future [6][26] Question: How is the Livorno refinery project progressing? - The Livorno refinery is in maintenance, with plans for transformation into a biorefinery expected to be finalized by summer or early autumn [14] Question: What are the expectations for the European gas market this summer? - The company expects a less critical summer compared to last year, with higher storage levels easing price pressures [45] Question: Can you elaborate on the strategic partnership with ADNOC? - The partnership aims to explore opportunities for reducing emissions and developing carbon capture projects in the UAE and internationally [99]

Financial Performance - Eni's consolidated financial statements are prepared in accordance with International Financial Standards (IFRS) [22] - The company reported a significant increase in identified net gains, reflecting improved operational performance and market conditions [31] - Eni's leverage ratio, calculated as net borrowings to shareholders' equity, indicates a strong financial position [31] - Eni's total shareholder return (TSR) reflects a positive trend, indicating strong market performance and investor confidence [31] - The company forecasts a Brent crude oil price of $85/bbl for 2023, estimating cash flow from operations to vary by approximately €0.13 billion for each $1 change in Brent price [55] - The capital budget for 2023 is projected to be about €9.5 billion, reflecting a 15% increase compared to 2022 [56] - The Group recognized a cash expense of about €1.04 billion for a one-off windfall tax on profits in Italy [129] - A tax expense of about €1 billion was recognized due to the EU's windfall levy on hydrocarbons sector profits exceeding historical averages [130] - The Group's net income was affected by extraordinary tax charges totaling about €2.4 billion, reducing yearly cash flow by about €1.1 billion [132] Production and Reserves - The average reserve life index shows a healthy ratio of reserves to total production, ensuring long-term sustainability [32] - Eni is focusing on enhancing recovery techniques to increase production efficiency from existing wells [33] - The company plans to increase the share of natural gas production in its portfolio to 60% by 2030, which may increase the variability of results due to natural gas market volatility [55] - In 2022, approximately 71% of Eni's total oil and gas production derived from offshore fields, primarily in regions such as Egypt, Norway, and Libya [97] - As of December 31, 2022, approximately 37% of the Group's total estimated proved reserves (by volume) were undeveloped, requiring significant capital expenditures for recovery [121] - Eni's future production levels are highly dependent on the success of exploration projects and the ability to replace produced reserves [115] Market Dynamics - Global upstream capital expenditures increased by approximately 20% in 2022 compared to 2021, primarily due to cost inflation [44] - Brent crude oil prices spiked to nearly $140/bbl following the onset of Russia's military operations in Ukraine, before retreating as fears of supply disruptions eased [44] - The average price of Brent crude oil remained in the $100-120/bbl range during the first half of 2022, driven by post-pandemic recovery and increased demand [44] - The current level of global upstream investment is insufficient to maintain oil production at the necessary level of 100 million barrels/day to meet global demand [44] - Global demand for crude oil increased by approximately 2 million bbl/d in 2022, reaching about 99.6 million bbl/d, nearly in line with 2019 levels [51] Strategic Initiatives - The company is investing in new technologies for the development of second and third generation feedstocks, aiming to reduce competition with food supply [32] - Eni is expanding its LNG portfolio, with plans to increase liquefaction capacity to meet growing global demand [33] - Eni is actively pursuing strategic partnerships and acquisitions to enhance its market position and operational capabilities [32] - The company anticipates continued growth in the renewable energy sector, aligning with global sustainability goals [31] Environmental and Regulatory Risks - Eni's operations are exposed to environmental risks, including potential oil spills and other incidents that could have material adverse effects on its financial condition [98] - The company expects to incur significant operating expenses related to compliance with environmental, health, and safety regulations in the foreseeable future [170] - Eni may incur significant environmental expenses and liabilities in the future due to unknown contamination and ongoing litigation, which could adversely affect its financial condition and shareholder returns [202] - Eni's financial performance heavily relies on the legacy business of Exploration & Production, which may be adversely affected by declining demand for hydrocarbons due to regulatory changes [176] - Eni faces increasing legal risks from climate-based litigation, which could result in significant financial liabilities [184] Geopolitical and Market Influences - The geopolitical situation in Libya continues to pose risks and uncertainties to Eni's operations and financial results [144] - Venezuela's financial stress and international sanctions have negatively impacted the country's production levels and fiscal revenues, affecting Eni's operations [145] - Eni's operations in Nigeria have been negatively impacted by ongoing oil theft at onshore pipelines [148] - The company is exposed to risks from evolving sanctions against Russia and Venezuela, which could materially affect its business and financial conditions [150][151] Financial and Operational Risks - Eni's credit risk has increased due to a significant rise in energy commodity prices, impacting the financial condition of its counterparties, particularly in the retail gas and power business [218] - The company has experienced a significant level of counterparty defaults, exacerbated by weak economic growth and the COVID-19 recession, leading to increased credit loss provisions in 2022 [218] - Eni's operations are heavily reliant on the reliability and security of its IT systems, which are susceptible to cyber threats and could adversely impact business operations [208] - Non-compliance with data protection laws could expose Eni to regulatory investigations, fines, and damage to its reputation, potentially affecting shareholder returns [210]

SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 ________________________ Form 6-K REPORT OF FOREIGN ISSUER Pursuant to Rule 13a-16 or 15d-16 of the Securities Exchange Act of 1934 For the month of March 2023 Eni S.p.A. (Exact name of Registrant as specified in its charter) Piazzale Enrico Mattei 1 -- 00144 Rome, Italy (Address of principal executive offices) (Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F.) Form 20-F X Form 40- ...

Eni S.p.A. (NYSE:E) Q3 2022 Earnings Conference Call October 28, 2022 8:00 AM ET Company Participants Francesco Gattei - CFO Giuseppe Ricci - COO, Energy Evolution Division Guido Brusco - COO, Natural Resources Aldo Napolitano - EVP Exploration Projects Management Cristian Signoretto - Deputy COO, Natural Resources Conference Call Participants Irene Himona - Societe Generale Massimo Bonisoli - Equita Biraj Borkhataria - RBC Capital Markets Henri Patricot - UBS Oswald Clint - Sanford C. Bernstein & Co. Marti ...

Eni S.p.A. (NYSE:E) Q2 2022 Results Earnings Conference Call July 29, 2022 8:00 AM ET Company Participants Claudio Descalzi - Chief Executive Officer Francesco Gattei - Chief Financial Officer Giuseppe Ricci - Chief Operating Officer of Energy Evolution Cristian Signoretto - Deputy of Chief Operating Officer, Natural Resources Stefano Goberti - Chief Executive Officer, Eni gas e luce Guido Brusco - Chief Operating Officer, Natural Resources Conference Call Participants Irene Himona - Société Générale Oswald ...

Eni S.p.A. (NYSE:E) Q1 2022 Earnings Conference Call April 29, 2022 8:00 AM ET Company Participants Francesco Gattei - CFO Guido Brusco - Chief Operating Officer Natural Resources Cristian Signoretto - Deputy of COO of Natural Resources Giuseppe Ricci - COO of Energy Evolution Division Cristian Signoretto - Deputy of COO of Natural Resources Luca-Bertelli - Chief Exploration Officer Stefano Goberti - Chief Executive Officer Conference Call Participants Michele Della Vigna - Goldman Sachs Irene Himona - Soci ...