Latest news with #Enilive
Yahoo
04-08-2025
- Automotive
- Yahoo
LG Chem and Enilive begin construction on fuel plant in South Korea
LG Chem and Enilive, a subsidiary of Eni, have commenced construction on South Korea's reportedly inaugural hydrotreated vegetable oil (HVO) and sustainable aviation fuel (SAF) production facility. The plant is located within LG Chem's Daesan Chemical Complex in Seosan, Chungcheongnam-do, approximately 80km south-west of capital Seoul. The joint venture, LG-Eni BioRefining, is overseeing the project, which aims for completion by 2027. Upon completion, the facility will process around 400,000 tons (t) of renewable bio-feedstock annually. The demand for HVO and SAF is anticipated to increase due to global renewable fuel mandates. The fuels are produced by hydrogenating sustainable vegetable oils such as used cooking oil and other waste residues, using Ecofining technology developed by Eni in collaboration with Honeywell UOP. Compared to traditional fossil fuels, HVO and SAF significantly reduce greenhouse gas emissions across the entire product value chain. LG Chem CEO Shin Hak-cheol said: 'LG Chem is transforming its portfolio to build a low-carbon foundation that ensures both a progressively more sustainable growth and profitability. 'By advancing innovation in renewable fuels and biobased feedstocks like HVO, we aim to strengthen our global competitiveness and meet our customers' evolving needs efficiently.' The establishment of this facility marks a significant move for LG Chem in the renewable energy sector. By integrating HVO into its supply chain, the company aims to broaden its range of International Sustainability and Carbon Certification PLUS-certified products. These products target applications in various sectors, including acrylonitrile butadiene styrene for electronics and cars, ethylene-vinyl acetate for sporting goods, and superabsorbent polymers for hygiene products. Enilive CEO Stefano Ballista said: 'The Seosan biorefinery breaking ground reaffirms Enilive's strategy in offering increasingly sustainable products and our company's position as a leader in biofuels production. 'Together with the plants that are already operational in Italy and in the US, and with new biorefining plants under construction in Italy and Malaysia, the upcoming biorefining plant in Daesan will contribute to reach our 2030 target to increase our biorefining capacity to over five million tons per year, with the potential to produce more than two million tons per year of SAF.' "LG Chem and Enilive begin construction on fuel plant in South Korea" was originally created and published by World Construction Network, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site.
New Straits Times
25-07-2025
- Business
- New Straits Times
Italy's Eni reports 25pct drop in second-quarter profit, cuts debt
MILAN: Italian energy group Eni said on Friday its second-quarter earnings fell 25 per cent year-on-year as lower oil prices and a weaker US dollar overshadowed a better-than-expected performance at its gas business. Adjusted net profit came in at €1.13 billion (US$1.33 billion) between April and June, down from €1.52 billion in the same period last year, but above an analyst consensus of €0.93 billion compiled by the company. Despite an adverse economic backdrop, the state-controlled group was able to cut its leverage before lease liabilities – a measure of total debt in relation to equity – to 19 per cent from 22 per cent in the same period last year. Including the proceeds expected from recent asset sales, its pro-forma leverage dropped to a historical low of 10 per cent. The group increased its annual cash benefit target – or cost-saving goal – to €3 billion from €2 billion previously, after putting in place mitigation measures for more than €1 billion in the months between April and June. "We believe our strong financial position, unique and differentiated strategy and ability to be flexible and agile, mean we are well positioned to navigate the current market volatility," said Eni CEO Claudio Descalzi in a statement, adding the group will continue to reward investors. The state-controlled group stuck to its €1.5 billion share buyback plan and dividend policy. It raised its expectation for underlying cash flow from operations (CFFO) in the full year to around €11.5 billion from €11 billion. It also improved its expectations for its gas and LNG division for this year and confirmed its outlook for its low-carbon units Enilive and Plenitude.
The Star
18-06-2025
- Business
- The Star
Soccer-Serie A chief blames illegal streaming for Italy's decline
FILE PHOTO: The new logo of Serie A football league is displayed during an event to celebrate a deal between Eni biofuel unit Enilive and Italy's football league to sponsor the country's top championship Serie A in Rome, Italy July 3, 2024. REUTERS/Guglielmo Mangiapane/File Photo (Reuters) -Serie A CEO Luigi De Siervo has pointed to illegal streaming and the resulting lack of TV revenue as a factor behind Italy's struggles to nurture homegrown talent as the Azzurri strive to return to the World Cup for the first time since 2014. Once a permanent fixture at the World Cup, four-times world champions Italy find themselves in dire straits having missed out on the last two editions and at risk of missing out on a third after losing their first qualifier against Norway. Italian authorities recently intensified efforts to counter online piracy, which is costing billions of euros to broadcasters and sports leagues globally as they try to protect the value of their broadcast rights. TV rights make up the bulk of revenue for Serie A teams and De Siervo said "there is still a mountain to climb" after they lost revenue to the tune of 300 million euros ($345.15 million) last year. "Many question why our national team is in this situation and why there is a lack of talent, one reason being the losses due to piracy," De Siervo said at an event on the fight against piracy. "All the money that is lost every year is not invested in the youth teams and in the growth of our young players, a major issue that has led our national team to face many difficulties. "In addition to this, the age-old facilities do not allow the clubs and the system to obtain high revenues. This has to be changed and this law goes in the right direction." De Siervo said if they continue to lose revenue, Italy and Serie A could tumble down UEFA's coefficient rankings. "We are already far behind the Premier League and the Spanish LaLiga," he added. "If we continue like this, we will finish behind the Germans and we will end up being at the bottom of the table (of Europe's top five leagues) together with the French." ($1 = 0.8692 euros) (Reporting by Rohith Nair in Bengaluru;Editing by Christian Radnedge)
Yahoo
11-04-2025
- Business
- Yahoo
Eni pockets 3.6 billion euros from stake sales in biofuel unit to KKR
MILAN (Reuters) - Italian energy group Eni said on Friday it completed the sale of an additional 5% stake in Enilive to U.S. fund KKR, bringing the total proceeds from the disposal of two minority stakes in its biofuel unit to 3.6 billion euros ($4.1 billion). This second deal with KKR was announced in February after a previous agreement, signed in October, under which the U.S. fund bought a 25% in the unit. The 3.6 billion proceeds include a 500 million euro capital increase into Enilive, Eni said. ($1 = 0.8815 euros) Sign in to access your portfolio
Reuters
11-04-2025
- Business
- Reuters
Eni pockets 3.6 bln euros from stake sales in biofuel unit to KKR
MILAN, April 11 (Reuters) - Italian energy group Eni ( opens new tab said on Friday it completed the sale of an additional 5% stake in Enilive to U.S. fund KKR, bringing the total proceeds from the disposal of two minority stakes in its biofuel unit to 3.6 billion euros ($4.1 billion). This second deal with KKR (KKR.N), opens new tab was announced in February after a previous agreement, signed in October, under which the U.S. fund bought a 25% in the unit. The 3.6 billion proceeds include a 500 million euro capital increase into Enilive, Eni said. ($1 = 0.8815 euros)
