From profits to decarbonisation, the Court of Auditors’ spotlight on Eni
“In conclusion it should be noted that, in an overall favorable market context, i financial year 2022 results were very positive, supported by operational efficiency, cost control, and careful management of risks deriving from price volatility and supply shortages”. This is what we read in the report Court of Auditors on financial management, year 2002, by Eni spa.
The latter controls, as group leader of Eni Group401 companies (126 in Italy and 275 abroad) and holds shareholdings in a further 134 jointly controlled companies and another 24 significant shareholdings (3 in Italy and 21 abroad).
By virtue of the shareholding held, both directly (4.41%) and indirectly (26.2%) through Cassa Depositi e Prestiti spa, the Ministry of Economy and Finance has sufficient votes to exercise a dominant influence in the ordinary shareholders’ meeting of the Company. As of December 31, 2022, the Eni Group is present in 62 countries with 32,188 employees, of which 11,310 abroad.
The financial year examined closed with particularly positive consolidated results for the Group, a Net income within the competence of the shareholders Eni of 13.89 billion and an operating cash flow of 17.6 billion. The 2013-2026 Strategic Plan, announced by Eni in February 2023, includes a program aimed at energy security and accessibility through geographical and technological diversification.
Eni pursues these objectives “by leveraging upstream and partnerships with producing countries to find opportunities for alternative gas supplies and accelerating your goals decarbonisation”. The share of gas production will rise to 60% by 2030.
Eni spa closes 2022 with a net profit of 5.03 million euros. The net assets equal to 52,521 million, le liquid assets increased to euro 7,628 million; the financial debts and bonds to the extent of 26,917 million of which 7,543 million short term and 19,374 million long term.
With regards to the Gruppo e Eni spa are parties to civil and administrative criminal proceedings, or are involved in criminal cases involving people for crimes related to the activities of the Company itself.
Among the ongoing procedures are the following:
–The criminal proceedings against executives of the Gela spa refinery (Sicily) and of EniMed spa concerns the crimes of unnamed environmental disaster, illicit waste management and discharge of industrial waste water without authorisation. Furthermore, the Gela Refinery is accused of committing an administrative offense pursuant to Legislative Decree no. 231/2001. The first degree judgment is underway before the Court of Gela.
–As part of investigations aimed at ascertaining the existence of a illicit trafficking of waste produced by the Val d’Agri Oil Centre (COVA) of Viggiano in the province of Potenza and disposed of in purification plants on the national territory, in March 2016 the Public Prosecutor’s Office of Potenza ordered house arrest for 5 Eni employees and placed under seizure some plants functional to the production activity in Val d ‘Agri which, consequently, was discontinued.
The Prosecutor’s Office requested the indictment of all the defendants and the legal entity Eni. The Court of Potenza, on 10 March 2021, issued a sentence with which, in relation to the charge of false ideology in a public document, it acquitted all the defendants, in relation to the contraventions it declared that there was no need to proceed due to the statute of limitations; finally regarding the hypothesis of traffickingco illegal waste acquitted two former employees of the Southern District for not having committed the crime, sentenced six former officials of the Southern District with suspended sentences. An appeal was lodged against the sentence.
–Following the accident that occurred at the Genoa Pegli warehouse on September 27, 2022—event that generated the crude oil leak from a pipeline within the warehouse itself and which partially affected some areas external to the production site—the Genoa Public Prosecutor’s Office initiated criminal proceedings in which the seizure of the part of the plant affected by the disruption was initially ordered, in subsequently subject to release from seizure. The crime for which the case is being prosecuted is “culpable environmental disaster alleged against four employees Eni while the company is accused of the administrative offence”.
The case is pending at the preliminary investigation stage.
–In February 2022 two citizens of Augusta (SR) agreed in two separate trials Eni Rewind in front of Court of Syracuseexposing that they were born with serious malformations due to mercury spills resulting from the plant’s mercury cell chlor-alkali system of Priolorequesting damages of 800,000 euros for each.
Eni Rewind appeared before the court by requesting summons and indemnity against Edison spataking into account that the chlor-alkali plant arrived at the Eni Group during the operation Enimont, therefore in the period following the alleged exposure to mercury by the actors, which necessarily occurred between 1972 and 1975 (years of birth of the actors). Edison spa has been incorporated, the proceedings are currently in the preliminary investigation phase.
–During September 2019, a summons was served before the Court of Potenza by eight individuals, resident in various municipalities in the Val d’Agri, who complained pecuniary damagesnon-patrimonial, biological and moral all deriving from the presence of Eni on the territory.
At the end of the hearing phase, the Judge sent the parties a proposal for a conciliatory settlement, setting a deadline for evaluating it and presenting further proposals in this regard. The parties did not agree to the proposal. During the last hearing on 19 February 2021, the Judge deemed the case ripe for settlement and set the hearing to clarify the conclusions for 30 June 2023, subsequently postponed to 19 February 2025.
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