UANI

Currently, Eni owns 43% of Italian energy giant, Saipem. (Saipem Website, "History")

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"Eni SpA (E), Italy's biggest oil and natural gas company, said it paid $888 million to the National Iranian Oil Company for crude last year and purchased a further $1.1 billion of Iranian oil from others in the same period. "Eni's refining and marketing division bought 1.6 million metric tons of oil from the Iranian state-owned company last year compared with 980,000 tons worth a total of $419 million in 2009, it said in a filing this week to the U.S. Securities and Exchange Commission."In addition, the Rome-based company said it bought from international traders and oil companies crude it believes was purchased from Iranian companies. Last year, this amounted to 2.09 million tons worth $1.1 billion compared with 278,000 tons worth $147 million in 2009, Eni said." (Dow Jones, "Eni Says Paid $888 Mln To Iran Oil Company For Crude In 2010," 4/8/11)

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On September 30th, ENI made a "pledge to stop investing in Iran's energy sector" as a result of pressure from American sanctions (AP, "US hits Iranian energy firm with sanctions," 9/30/2010). However, ENI continues to fulfill current Iranian contracts, and "traders say the group is still bringing Iranian crude for its refineries in Italy" (Reuters, "Oil majors tell US still have some Iran dealings," 9/30/2010).  

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"Eni SpA (E), Italy's biggest energy company by market value, is working on handing over the operatorship of the Iranian Darquain oil field to local partners, as it limits its presence in the hydrocarbon-rich Islamic republic. Development activities in Darquain were concluded in 2009, said Eni in its annual report to the U.S. Security and Exchange Commission released late Monday. The oil field was the only activity operated by Eni in Iran. Eni's 2009 daily production in Iran was 35,000 barrels of oil equivalent, or about 2% of its total output, the company said. "Eni does not believe that its activities in Iran have a material impact on the group's results." The company also said it incurred annual capital expenditure of more than $20 million in Iran in each of the last 10 years and the management may decide to invest more than $20 million a year in the future. Eni said it hasn't had sanctions imposed to date from the U.S. administration over its activities in Iran." (Down Jones Newswires, "Eni Working On Handing Over Iran Darquain Field Operatorship," 4/27/10)

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"ENI, an oil company partially owned by the Italian government, has openly admitted in filings that their activities in Iran potentially violated U.S. sanctions. In February, ENI's chief executive announced that the company would pull out of Iran after current contracts to develop two gas fields run out."  From 2000-2009, the company has been the recipient of 1.1 million acres of oil/gas fields from the US government.  Their business in Iran is currently active, but with no plans of new investments, and they have been listed as a possible violator of the Iran Sanctions Act. (The New York Times, "Profiting from Iran, and the US," 3/6/2010)

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"ENI SpA's chief executive said Thursday that the Italian energy company will pull out of Iran after current contracts to develop two gas fields there run out, as international pressure grows to isolate the country over its disputed nuclear program... He told reporters that the company won't prolong contracts it signed in 2001 to develop two Iranian gas fields. Iran has the world's second largest gas resources after Russia and has resisted global pressure - including U.S. sanctions - over its program to enrich uranium. Iran says its program is peaceful but the U.S. says it suspects Iran is trying to build nuclear weapons. 'We will continue to abstain in the future,' Scaroni told reporters. Italy has long enjoyed strong commercial ties with Iran. But President Silvio Berlusconi this week called for tighter sanctions against Iran and said Italian companies have cut business ties with Iran by a third since 2007. The Italian government owns about 30 percent of ENI." (Associated Press, "ENI to pull out of Iran," 2/4/10)

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"New York State Comptroller Thomas P. DiNapoli also announced Tuesday the $110 billion fund would freeze an additional $300 million in seven other companies...The decision comes after two years of reviewing these companies, the potential risk of the investments and, in some cases, humanitarian efforts in these countries. 'We don't expect our investments to benefit regimes that support genocide and terrorism,' said DiNapoli...The fund also plans to monitor and prohibit further investment in ENI (E), Repsol YPF (REP), Royal Dutch Shell PLC (RDSA), Total SA (TOT), ABB Ltd. (ABB), Alstom (ALO.FR) and Snam Rete Gas (SNMRY). Additionally, it plans to focus on other industries including telecommunications. (Wall Street Journal, "NY Comptroller To Divest $86.2M In State Pension Fund Investments," 6/30/09 and The Office of New York State Comptroller Thomas P. DiNapoli)

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"Eni has been present in Iran since 1957. In 2007 production net to Eni averaged 26 kboe/d. Eni's activities are concentrated in the offshore of the Persian Gulf and onshore for a total acreage of 1,456 square kilometers (820 net to Eni)." (Company website) 

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"Italy is Iran's largest trading partner in Europe, mainly because of investments by energy giant ENI. This month, Fiat Group Autos SpA said it would begin manufacturing its Siena four-door sedan in Iran later this year more than 3 1/2 years after signing an agreement with the Iranian car manufacturing company PIDF." (Associated Press, 7/28/08) 

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"William Burns, U.S. Under Secretary of State for political affairs, pointed out that several big energy companies, including Total, Shell, ENI and Repsol, have scaled back their business in Iran over the past few years." (Reuters, "US to review if Statoil violates Iran sanctions law," 7/09/08) 

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Listed by U.S. Government as doing business in Iran. (U.S. Securities and Exchange Commission, List of Companies Doing Business With State Sponsors Of Terror, Removed from the Internet in July 2007) 

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"GIANTS WITH A FOOT IN TEHRAN: Total, Shell, Statoil, BNP Paribas, Commerzbank, MTN, UPS, Linde, Technip, Nokia, Ericsson, Peugeot, Renault, OMV, Societe Generale, ENI, Mitsubishi, Sumitomo, Siemens, LG, Samsung, Bosch, Valeo, Nestle, Unilever, BAT, Japan Tobacco." (The London Times, "American pressure threatens UK firms," 5/27/06)

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"Eni, Italy's biggest oil and gas group, is still owed over $1 billion worth of oil by Iran and has a special exemption enabling it to continue receiving that crude despite an EU embargo on Iranian oil, its chief executive said.  "The amount is in a range of $1.0-1.4 billion," CEO Paolo Scaroni said in a meeting with foreign reporters on Friday.  Iran for years has been using oil to pay back Eni for decade-old deals. Three years ago Eni was owed around $3 billion in oil...Scaroni said Eni was exempt from the embargo since it was the subject of a "special rule" granted by both the United States and EU covering oil it receives from Iran as payment for investments already carried out.  Under the agreement, Eni withdraws about 10,000 barrels per day from Iran, he said." (Reuters. "Eni still owed over $1 bln by Iran," 3/23/12)