Our Energy Evolution Journey

Some month ago, Giuseppe Ricci and I had the honor of opening the Conference #ERT2023 organized by the World Refining Association . The experience was truly humbling as I shared insights, perspectives, and a vision for the future of our industry.

Yesterday, Eni made waves by announcing the conversion of the Livorno Refinery into a Bio-Refinery , a transformative move in the journey towards achieving net-zero goals. This groundbreaking initiative echoes the forward-thinking discussions we had at the conference about the dynamic evolution of our industry.

I want to extend a special note To Pietro Chèrié Lignière , the Refinery Manager, to Marcello Poidomani , the Project Director, and to all my Livorno colleagues working on the ground floor and who will play a crucial role in the next two years during this remarkable conversion. Your dedication is vital and I'm excited to share with all of you the entire #ERT2023 speech.

It's a pleasure to bring this dialogue to a broader audience and engage with professionals worldwide.

"Ladies and gentlemen, esteemed colleagues, and honored guests,I stand before you today not just as an electrical engineer with over 25 years of experience in refining, but as someone who has seen the industry's evolution and understands the pressing need for a holistic approach to the Energy Transition.

I learned early on that decarbonization isn't merely about electrification; it's about embracing a comprehensive strategy.

I am honored to serve as the Head of Asset Management in Eni's Refining Evolution and Transformation Business Unit, where we focus on buying, receiving, and treating oil and intermediate products, transforming them into the final products that drive our fuel market. Our team, in collaboration with the Licensing Unit, ensures the commercial, technical, and technical assistance aspects of Eni's proprietary downstream technologies, thus providing high-quality fuels and lubricants to the market.

Today, I'm here to share a vision for our industry's future, one that revolves around the Energy Transition, and how we, as refiners, can act in the short term to ensure Europe's energy security, competitiveness, and reduce the carbon footprint of our products.

Let me start with a story the story of Eni Refiners.

With a legacy spanning 70 years, our journey has been a testament to operational excellence, flexibility, and adaptation. We've turned old industrial sites into beacons of transformation, avoiding unemployment and ensuring a just transition.

This story, which belongs not only to Eni but to the entire refining industry, serves as a testament to our resilience and ability to thrive through challenges.

The Energy Transition, ladies and gentlemen, is an immense journey.

It's a path fraught with complexities, policy changes, technological leaps, and evolving consumer demands. But it's a path we must tread with urgency.

Our journey towards operational excellence, continuous improvement, closing the energy efficiency gap, and adopting no-brainer solutions has never been more critical.

An anecdote that resonates with me deeply involves a conversation I had with the frontlines of our refining operations. I asked them a simple yet profound question: In the short term, what can we do, as refiners, to navigate these energy transition times, reduce our carbon footprint, and maintain our competitiveness?"

The response was nothing short of enlightening and has been beautifully captured in the following hashtag cloud.

The insights shared by our dedicated frontliners encapsulate the essence of our challenges and opportunities. The responses echoed in themes such as the impact of demographic shifts on operational excellence, the value of past experiences, and the need for strong operational leadership.

It's a vivid reminder that to address the Energy Transition, we need a collaborative, all-hands-on-deck approach. Let's delve into these insights because they not only reflect our industry's current situation but also hold the keys to our success in the short term and beyond.

As refiners, we have a unique role in ensuring Europe's energy security. We provide a diversified supply of energy products, reducing reliance on a single source or supplier and stabilizing prices.

Our contribution to energy security becomes even more vital in times of geopolitical or supply disruptions, as we offer a mix of energy products sourced domestically and from various regions.

But the Energy Transition isn't just about technology and operations; it's also about leadership. Trust, accountability, and collaboration are the cornerstones of effective leadership during this transition.

Trust empowers leaders to guide teams through uncertainty, embrace novel challenges, and make informed decisions that anchor long-term sustainability. It extends to stakeholder networks, facilitating effective communication, understanding, and collaboration. Collaboration with government agencies, environmental groups, and other stakeholders is crucial. By proactively seeking common ground and embracing sustainability and social responsibility, we not only improve our reputation but also address regulatory concerns. Advocating for long-term regulatory stability is equally vital. Engaging with policymakers to encourage consistent, long-term policies provides a clear roadmap for our industry, aiding in strategic planning and investment decisions. In the short term, there are challenges, but they are opportunities in disguise.

The lack of experienced personnel impacting operational excellence can be addressed through mentorship and knowledge management.The Energy Transition is a long journey, but it's one we must embrace with a sense of urgency.

Europe's energy security depends on it.

Our competitiveness in a global market demands it. And the lower carbon footprint of our products is our collective responsibility. As refiners, we are pioneers, innovators, and problem solvers. We have a unique opportunity to inspire change.

In closing, I want to leave you with this thought: Our industry has always thrived on challenges. We have consistently demonstrated our ability to adapt, evolve, and excel. The Energy Transition is the defining challenge of our time, and I have no doubt that we will rise to the occasion once again.Let us lead with innovation, embrace sustainability, and be the inspiration that Europe and the world need. Together, we can shape the future of energy for the better.

Thank you for your dedication to this industry, your commitment to excellence, and your unwavering spirit. Let us embark on this journey with optimism and determination."

#OilAndGas #Sustainability #Biorefinery #NetZero #IndustryInsights