Eni shines on the stock exchange, the organizational reorganization appeals to the market


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Two directorates-general, one dedicated to oil activities and the other dedicated to green activities. For analysts, the new organization allows to accelerate the transition process towards renewables

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The oil sector in Piazza Affari is on the rise, led by Eni which rises after the anticipations of the Radiocor agency on the reorganization of the structure, with the birth of two directorates-general that would report to the CEO Claudio Descalzi: the oil activities (upstream + midstream) which would be headed by Alessandro Puliti, currently responsible for the upstream part and the “green” activities (Downstream, Eni Gas and Luce, Versalis, renewable) which would be headed by Massimo Mondazzi, current CFO.

Analysts promote the new organization
Positive analysts’ opinion on the possible reorganization: “The new organization would allow to accelerate in the energy transition with the green business to be expanded in renewables, circular economy, green chemistry and biorefineries. – underlines Equita, which has 11 buy and target prices on the share euro – The news, if confirmed, may have positive implications for the title as the separation of green activities into a single segment, even if not pure as it still contains traditional businesses, would allow the market to monitor the returns of new initiatives related to the energy transition and apply a higher valuation multiple to it than oil activities “.

Structure announced by Descalzi by the end of the year
At the end of February, with the presentation of the new business plan, the CEO Descalzi had hypothesized the reorganization of the organizational structure by the end of the year to proceed in parallel with the transformation of the group, increasingly projected towards the energy transition: the times could therefore be ripe and the market rewards this scenario.

The whole European oil sector is on the rise
In any case, Tenaris and Saipem also travel upwards in Piazza Affari. As mentioned, in Europe the whole sector is rising in the wake of crude which sees Wti and Brent advancing by about 1%; in London BP and Royal Dutch Shell advanced by 2%.

(Il Sole 24 Ore Radiocor)

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