Eni’s development strategy until 2050

  • Truong Nhu Tung
  • Nguyen Huu Luong
  • Hoang Thi Dao
Keywords: Strategy, upstream, downstream, zero carbon, Eni

Abstract

Oil companies in the world are gradually converting into energy ones and focusing on green development. This article presents Eni’s development strategy until 2050 and its action plan for 2020 – 2023, targeting to become a “zero carbon” company by 2050. For that purpose, several objectives and an action plan have been established, namely: (i) focus on gas production in the fossil energy sector; (ii) limitation on the number of conventional refineries and optimisation to enhance their efficiencies; (iii) gradual conversion of conventional refineries into bio-refineries; (iv) focus on production of specialised products and waste recycling; and (v) diversification and expansion of product chains, and promotion of the service sector. This is a good reference for PVN to prepare its development strategy in a context of fast changes in the global energy industry.

References

[1] Eni, “The dual exploration model”, 2013. [Online]. Available: https://www.eni.com/en-IT/operations/dualexploration-model.html.
[2] Eni, “Our exploration model”, 31/5/2018. [Online]. Available: https://www.youtube.com/watch?v=zllSF1piNnw&feature=emb_ logo.
[3] Eni, “Long-term strategic plan to 2050 and action plan 2020 - 2023”, 28/2/2020. [Online]. Available: https://www.eni.com/assets/documents/press-release/migrated/2020-en/02/pr-long-term-strategic-plan-to-2050-and-action-plan-2020-2023.pdf.
[4] BCG, “Navigating through COVID-19 and oil supply-demand shock”, Discussion with PVN CEO, 14 April 2020.
[5] Eni, “Financial reports”. [Online]. Available: https://www.eni.com/en-IT/investors/reports.html.
[6] Wood Mackenzie, “Could clean energy be the winner in the oil price war?”, 24/3/2020. [Online]. Available: https://www.woodmac.com/news/opinion/could-cleanenergy-be-the-winner-in-the-oil-price-war/.
Published
2020-07-20
How to Cite
Truong Nhu Tung, Nguyen Huu Luong, & Hoang Thi Dao. (2020). Eni’s development strategy until 2050. Petrovietnam Journal, 7, 25 - 32. https://doi.org/10.25073/petrovietnam journal.v7i0.324
Section
Articles

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