Italian oil and gas company Eni has set up two business units, including one covering renewable energy, as part of a new structure for the company.
The Energy Evolution unit will focus on power generation, in particular renewables, as well as the transformation and marketing of products from fossil to bio, blue and green.
It will coordinate the bio and circular evolution of the company’s refining system and chemical business, and further develop Eni’s retail portfolio, providing increasingly more decarbonised products for mobility, household consumption and small enterprises.
A second new unit called Natural Resources will have the objective of reducing the the company’s carbon footprint.
This will involve scaling up energy efficiency, expanding natural gas, and developing carbon capture and compensation projects.
The group will incorporate the company’s oil and gas exploration, development and production activities, natural gas wholesale via pipeline and LNG.
The new organisational structure will be implemented over the coming weeks.
Eni chief executive Claudio Descalzi (pictured) said: “This new structure reflects Eni’s pivot to the energy transition. An irreversible path that will make us leaders in decarbonised energy products.
“We are creating two new business groups in our company. They will have specific objectives, but they will also cooperate to deliver on the transition and to provide our customers with the widest range of sustainable products.
“The reorganisation also involves the corporate structures, which will evolve, continuing to be the central reference point for strategic and control processes, providing an effective support to meet the business groups’ objectives.
“The fight against climate change and promotion of sustainable development are recognised by governments, civil society, investors and business alike as priorities for global development.
“Only those who pursue these in an innovative way will create value in the long term. We want to be main actors in a ‘Just Energy Transition’, in which we believe, and is central to Eni’s transformation.”