Eni is an Italian multinational energy company headquartered in Rome. With operations in 69 countries and a market capitalization of US$54.08 billion as of April 11, 2022, it is one of the world's seven "supermajor" oil companies. The Italian government owns 30.33% of the company. Originally, the name "ENI" stood for "Ente Nazionale Idrocarburi" (National Hydrocarbons Board). With revenues of around €92.2 billion in 2022, Eni ranked 111th on both the Fortune Worldwide 500 and the Forbes Worldwide 2000, making it the third biggest Italian organisation on the Fortune list (after Assicurazioni Generali and Enel) and the second biggest on the Forbes list (after Enel).

[The Fortune Global 500 is an annual ranking of the top 500 corporations worldwide as measured by company revenue. This list is compiled and published annually by Fortune magazine.]
[Forbes is a business magazine. Forbes is popular worldwide for publishing a variety of lists.]



BIG OIL and ENI:
"Big Oil" refers to the world's largest publicly traded and investor-owned oil and gas companies, also known as "supermajors." The term emphasises their economic power and political influence. The most frequently mentioned supermajors are ExxonMobil, Chevron, BP, Shell, Eni, and Total Energies. Enrico Mattei, the head of the Italian state oil company (Eni), coined the phrase "Seven Sisters" after his company was denied membership. This term became more popular when British writer Anthony Sampson published The Seven Sisters in 1975. But things are changing. In 2012, only 7% of the world's known oil reserves were located in nations that gave private international corporations complete freedom, according to PFC Energy. 65 percent of the market is controlled by state-owned businesses.


History
Eni was created in 1953 by the merger of Agip, an existing company founded in 1926 to explore oilfields, acquire, and commercialise oil and oil derivatives.

Ente Nazionale Idrocarburi was originally an acronym for the full name of the company (National Hydrocarbons Board).

The meaning became inconsequential after 1995, but the name was retained. Beginning in 1954, Eni acquired extensive exploration rights in North Africa, signing an agreement with the Egyptian government led by Nasser that provided the crude-producing countries with an active and equal role through the formation of joint ventures.

Eni pushed for the signing of a similar agreement, known as the "Mattei formula," with Persian Shah Mohammad Reza Pahlavi and the National Iranian Oil Company in 1957. Eni signed an agreement with the Soviet Union in 1960 to import Russian crude at low prices during the Cold War.

In the years since, Eni has signed joint venture contracts with foreign companies to supply crude oil from Egypt to Iran and Libya to Tunisia.

In 1963, Eni purchased a majority stake in Italgas. Eni was established as a joint stock company by law decree in 1992, and in 1995 it was listed on the Italian and New York Stock Exchanges.

Since 2012, Eni has increased profitability by disposing of assets in Eastern Europe for refining and marketing.

Eni and MIT agreed in March 2018 to fund fusion research projects based at the MIT Plasma Science and Fusion Center's (PSFC) newly established Laboratory for Innovation in Fusion Technologies (LIFT).

The Mattei Formula:
Mattei initiated innovative partnerships with the governments of Egypt and Iran to secure Italy's foreign oil supply. Instead of the traditional 50-50 profit split, Mattei negotiated new terms under which the host country received 50% of the partnership's profits and had the option of participating in production costs and receiving half of the remaining 50%.
This so-called 75-25 formula, also known as the Mattei formula, was viewed as a direct challenge to the traditional arrangements negotiated by the major oil companies. Eni also negotiated oil concessions in France, Africa, and Spain through Mattei, as well as an agreement to import large quantities of crude oil from the Soviet Union in exchange for manufactured goods exports.

ENI in Bangladesh:
ENI Lubricants were introduced by ACI Motors Ltd. to support Bangladesh's expanding automotive and manufacturing industries. ACI Motors distribute Yamaha motorcycles on the domestic market. Not only as a company, they have established themselves as a lifestyle brand for riders in the country's motorcycle industry. The company also sells commercial vehicles, power generation equipment, and a full line of construction equipment. This company has a nationwide distribution network of over 650 dealers.

ENI provides its customers with over 400 lubricant variants. While there are numerous brands of lubricants on the market, consumers continue to face the challenge of obtaining quality lubricants at a reasonable price.
The products of ENI currently available in the country are:
ENI i-Ride 10W-30 Mineral (1 Liter)
ENI i-Ride 10W-30 Synthetic (0.8 Liter)
ENI i-Ride 10W-40 Mineral (1 Liter)
ENI i-Ride 10W-40 Synthetic (1 Liter)
ENI i-Ride 20W-40 Mineral (1 Liter)
ENI i-Ride 20W-50
To know more information about ENI click here.