ENI

Italian multinational energy giant ENI operates across the oil and gas value chain, from upstream through to petrochemicals. Most of its hydrocarbon production comes from Africa, Kazakhstan, Iraq, Indonesia and the UAE. It is also major gas trader, particularly serving Italy, while operating oil refineries, renewable assets, and a gas and power supply business. ENI’s strategy revolves around what it calls its "satellite model," where it starts businesses and then sells minority stakes, in theory reducing its own risk while boosting access to capital for the new firm. Subsidiaries created in this way include Plenitude (power and gas supply), Versalis (chemicals) and Vår Energy (Norwegian upstream development). As well as investing in renewables and other green technologies, the Rome-headquartered group is pivoting from oil to gas, aiming for the latter to account for 60% of its hydrocarbons mix by 2030.