Oil and Gas: Eni investing €7 billion in Italy over four years
Eni CEO Claudio Descalzi says that the oil giant will invest €7 billion (US$8.6 billion) in activities in its home country of Italy over the next four years.
Mr Descalzi told investors on the 18th April that the investments will include €1 billion into efforts to reduce its carbon footprint. That includes converting decommissioned terrain belonging to Eni totalling some three million hectares, mostly in southern Italy, to solar energy fields.
The CEO also underlined Eni’s conversion of refineries in Venice and Gela into “green refineries” transforming waste into biodiesel, with a target of one million tons of biodiesel annually by 2021.
Eni said that oil and gas production increased by four percent in the first quarter of 2018, from 1.795 million barrels of gas and oil equivalent in the same period last year.
Source: Penn Energyni CEO Claudio Descalzi says that the oil giant will invest €7 billion (US$8.6 billion) in activities in its home country of Italy over the next four years.
Mr Descalzi told investors on the 18th April that the investments will include €1 billion into efforts to reduce its carbon footprint. That includes converting decommissioned terrain belonging to Eni totalling some three million hectares, mostly in southern Italy, to solar energy fields.
The CEO also underlined Eni’s conversion of refineries in Venice and Gela into “green refineries” transforming waste into biodiesel, with a target of one million tons of biodiesel annually by 2021.
Eni said that oil and gas production increased by four percent in the first quarter of 2018, from 1.795 million barrels of gas and oil equivalent in the same period last year.
Source: Penn Energy