- June 23, 2021
- Posted by: Stratford Team
- Category: Business
LONDON, June 22 (Reuters) – Eni (ENI.MI) may consider spinning off its biorefinery business and coupling it with retail operations as it is doing with its renewable assets, the Italian energy group’s Chief Executive Claudio Descalzi told Reuters on Tuesday.
“It’s really premature but it is a possible interesting deal for the future,” Descalzi said in an interview at the Reuters Events Global Energy Transition conference.
Several European energy companies, such as Spanish multi-energy company Repsol (REP.MC), are looking to divest parts of their green businesses to raise money to reduce debt and pay for the shift away from oil and gas.
“Biorefineries with retail… that could be a very good business,” Descalzi said. Eni has two biorefineries in Italy and has said it wants to build more at home and abroad.
Eni, which in February unveiled some of the most ambitious climate targets in the industry, is looking to restructure its business and portfolio to help…