Eni spins off refineries, depots into new unit

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Home > Finance > Eni spins off refineries, depots into new unit

Finance

Eni spins off refineries, depots into new unit

Published by Global Banking and Finance Review

Posted on January 5, 2026

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Tags:sustainability innovation

MILAN, Jan 5 (Reuters) - Italian energy group Eni said on Monday it transferred the refineries and depots it owns in Europe and the Middle East to a new unit called Eni Industrial Evolution.

The new unit includes Eni's Sannazzaro de Burgondi and Taranto refineries, the group's stake in the Milazzo refinery joint venture and the Livorno refinery in Italy, the energy group said.

"The transaction... is part of Eni's strategy to ensure a fully decarbonised energy offering both in production processes and to consumers," the Italian group said in a statement.

(Reporting by Francesca Landini, editing Gianluca Semeraro)

Frequently Asked Questions about Eni spins off refineries, depots into new unit

1What is a refinery?

A refinery is an industrial facility where crude oil is processed and transformed into useful products like gasoline, diesel, and other petrochemicals.

2What is decarbonization?

Decarbonization refers to the process of reducing carbon dioxide emissions associated with energy production and consumption, aiming for a more sustainable energy system.

3What is a joint venture?

A joint venture is a business arrangement where two or more parties agree to pool their resources for a specific project or business activity, sharing profits and risks.