Eni SpA operates exploration and production fields, pipeline networks, petroleum refineries, petrochemical plants, power plants, and fuel stations. Operations are organized into four business units: Exploration & Production (E&P); Global Gas & LNG Portfolio (GGP); Refining, Marketing, & Chemicals; and Eni gas e luce, Power, & Renewables. The Italian government holds a minority interest in the company. Common shares are listed on the Milan (ENI) and NYSE (E) exchanges.
Azienda Generale Italiana Petroli (Agip) was formed in 1926 by royal decree as a national joint stock company following the establishment of a joint enterprise between Italy and Sinclair Oil in 1924. Ente Nazionale Idrocarburi, commonly known as Eni, was formed in 1953 as a predecessor to Agip. In 1963, Eni acquired a majority stake in Italgas. Eni established 50-50 Egyptian joint ventures Belayim Petroleum, commonly known as Petrobel, in 1978 and Agiba Petroleum in 1981. Eni became a joint stock company in 1992 by legal decree and was listed on the Milan and NYSE exchanges in 1995 with 70% of shares going to private shareholders by 1998.