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Eni CEO: No Future for Firms Working in Just O&G

October 18, 2019

Eni CEO Claudio Descalzi (File photo: Eni)

There is no future for companies that work only in oil and gas in the medium- to long-term, the head of Italian major Eni said on Friday.

"Diversification into renewable energy and the circular economy is crucial," Claudio Descalzi told financial daily Il Sole 24 Ore in an interview.

Asked about interest in Eni from France's Total, Descalzi said he did not know if the French major or other companies were interested in the company.

"For sure, nobody will be able to touch us without the green light from the Italian government," he said.

Eni is more than 30% owned by the Italian state.

(Reporting by Stephen Jewkes, editing by Giulia Segreti)

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