Latest news with #Versalis
Yahoo
03-07-2025
- Business
- Yahoo
Eni Launches Versalis Oilfield Solutions to Boost Drilling Services
Eni S.p.A's E chemical arm, Versalis, has officially launched Versalis Oilfield Solutions S.r.l., a dedicated subsidiary, to offer specialized products and services for the global oil drilling industry. Effective July 1, 2025, the newly formed entity will consolidate Versalis' Oilfield Chemicals business unit into a standalone company, sharpening its operational focus and accelerating growth in a high-value-added segment. The spin-off marks a strategic move by Eni to bolster its position in the oilfield services sector. The new company integrates key expertise in R&D, tailored chemical formulations, outsourced production, and marketing of solvents and additives specifically designed for the oil drilling industry. Additionally, Versalis Oilfield Solutions will provide technical support, sales, and after-sales services, ensuring a robust and responsive offering to clients worldwide. Originally launched in 2010, the Oilfield Chemicals business has grown steadily (in terms of both volume and value). With the establishment of this entity, Eni aims to expand product and service offerings, diversify customer base and unlock new revenue streams — all while enhancing profitability and sustainability in line with the energy transition. Versalis Oilfield Solutions is now fully operational, with a global footprint spanning Europe, the Americas (including the USA, Mexico, and Venezuela), Africa (including Angola, Mozambique, the Democratic Republic of the Congo, Ghana, and Côte d'Ivoire, and Asia (China and Turkmenistan). The company is positioned to deliver advanced technical support and tailor-made solutions to a broad client base across these regions. The newly formed company benefits from a dedicated management team led by chairman and CEO Sergio Lombardini. Its strategic focus lies in boosting operational efficiency, enhancing commercial and technological performance, and developing sustainable solutions for oilfield applications. By consolidating operations into a leaner and more agile structure, Eni is reinforcing its commitment to meet evolving market demands and support oil industry players with cutting-edge, environmentally responsible technologies. E currently carries a Zack Rank #3 (Hold). Investors interested in the energy sector may look at a few better-ranked stocks like Subsea 7 S.A. SUBCY, W&T Offshore, Inc. WTI and Oceaneering International, Inc. OII. Subsea 7 presently sports a Zacks Rank #1 (Strong Buy), while W&T Offshore and Oceaneering International carry a Zacks Rank #2 (Buy) each. You can see the complete list of today's Zacks #1 Rank stocks here. Subsea 7 helps build underwater oil and gas fields. It is a top player in the Oil and Gas Equipment and Services market, which is expected to grow as oil and gas production moves further offshore. The Zacks Consensus Estimate for SUBCY's 2025 EPS is pegged at $1.31. The company has a Value Score of A. W&T Offshore benefits from its prolific Gulf of America assets, which offer low decline rates, strong permeability and significant untapped reserves. The company's acquisition of six shallow-water fields in the GoA added 18.7 million barrels of proved reserves and 60.6 million barrels of proved plus probable reserves. The firm is focused on strategically allocating capital toward organic projects, which should boost its production outlook. WTI has a Value Score of B. Oceaneering International delivers integrated technology solutions across all stages of the offshore oilfield lifecycle. With a geographically diverse asset portfolio and a balanced revenue mix between domestic and international operations, the company effectively mitigates risk. As a leading provider of offshore equipment and technology solutions to the energy sector, OII benefits from strong relationships with top-tier customers, ensuring revenue visibility and business stability. The Zacks Consensus Estimate for OII's 2025 EPS is pegged at $1.79. The company has a Value Score of B. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Eni SpA (E) : Free Stock Analysis Report W&T Offshore, Inc. (WTI) : Free Stock Analysis Report Oceaneering International, Inc. (OII) : Free Stock Analysis Report Subsea 7 SA (SUBCY) : Free Stock Analysis Report This article originally published on Zacks Investment Research ( Zacks Investment Research
Fibre2Fashion
20-06-2025
- Business
- Fibre2Fashion
Versalis unveils Hoop Demo plant in Mantua for chemical recycling
Versalis, Eni's chemical company, unveiled, at its Mantua site, a demonstration plant based on Hoop, the company's new proprietary technology for the chemical recycling of mixed plastic waste. Versalis, Eni's chemical arm, unveiled its Hoop demo plant in Mantua for chemical recycling of mixed plastic waste into new feedstock. Developed with SRS, it uses pyrolysis and AI for high-yield recovery. Processing 6,000 t/year, it paves the way for a 40,000-tonne plant in Priolo. SC-HOOP won EU Innovation Fund support and will feature at Expo 2025. This technology, which complements mechanical recycling, makes it possible to convert mixed plastic waste into feedstock that can be used to produce new plastic materials suitable for all applications, including food contact packaging and pharmaceutical packaging. Hoop was developed through a joint project with the Italian engineering firm S.R.S. (Servizi di Ricerche e Sviluppo), leading to an innovative technology that achieves high material recovery yields and offers excellent flexibility in terms of input materials. This is made possible by combining a high thermal performance pyrolysis reactor with Versalis's expertise in polymer property analysis and production process optimisation through Artificial Intelligence systems. Construction of the Hoop demonstration plant, which occupies an area of approximately 5,000 square metres within the Mantua site, began at the end of October 2023. During the construction phase, more than 25 specialised contractors were involved, with an average daily workforce of around 70 people. In recent weeks, the first production tests were successfully completed. The plant is capable of processing 6,000 tonnes of secondary raw material per year and will serve to validate the technology application on an industrial scale. Under the Memorandum of Understanding on the Eni-Versalis Chemical Transformation Plan signed last March with the Ministry of Enterprises and Made in Italy (MIMIT) a 40,000-tonne facility is planned for construction at the Priolo site in Sicily. The feasibility study has already been completed and the design phase is currently under way in preparation for the start of the permitting process. 'Today we are giving further substance and value to circularity, one of the pillars of Versalis's transformation plan', said Adriano Alfani, CEO of Versalis. 'The Hoop plant we are opening today is a symbol of the path we are following – harnessing innovation to reshape our business through new industrial initiatives based on circularity, biochemistry and specialisation, in pursuit of increased sustainability. We are committed to addressing all three of sustainability core dimensions: environmental, social and economic.' SC-HOOP, Versalis' project name for the realization of the demo plant based on Hoop technology at Mantua, is the only Italian large scale project to be awarded funding in the 2023 EU Innovation Fund call, out of 239 proposals submitted and 41 selected overall. The Fund established by the European Commission, supports innovative low-carbon technologies. The patent has also been selected by the Ministry of Enterprises and Made in Italy to be showcased among Italy's successful innovations, both in the themed exhibition 'L'Italia dei Brevetti' [Italy of patents] (held in Rome from November 2024 to March 2025) and in the Italian Pavilion at Expo 2025 in Osaka, Japan. Note: The headline, insights, and image of this press release may have been refined by the Fibre2Fashion staff; the rest of the content remains unchanged. Fibre2Fashion News Desk (HU)
Reuters
19-06-2025
- Business
- Reuters
Eni unveils plant for chemical recycling of plastic waste
MANTUA, Italy, June 19 (Reuters) - Versalis, the chemical company of Italian energy group Eni ( opens new tab, on Thursday unveiled a demonstration plant based on its new proprietary technology for the chemical recycling of mixed plastic waste. The technology, dubbed 'Hoop', makes it possible to convert mixed plastic waste into a material that can be used to produce new plastic materials suitable for all applications, including food contact packaging and pharmaceutical packaging. The move is part of a strategy of the state-controlled group to overhaul its loss-making chemical business. A build-up of production capacity in China and high energy and raw material costs have put European petrochemical producers under unprecedented pressure, prompting groups including Eni, TotalEnergies ( opens new tab and BP (BP.L), opens new tab to shut down old plants or put assets up for sale. Eni said last year it would invest 2 billion euros ($2.3 billion) by 2029 to turn around its chemicals business, which accumulated 3 billion euros in losses in the last five years. The revamp hinges on starting new activities including plastic recycling, bio-refining and energy storage and shutting down several primary petrochemicals plants including steam crackers. Eni plans in the next few years to set up a new plant based on the 'Hoop' technology in Priolo, Sicily, where it will shut a steam cracker by the end of this year. "A final investment decision on the new recycling plant in Priolo could come next year," Versalis Chief Executive Officer Adriano Alfani said at an event to inaugurate the demo plant in Mantova. Versalis' new technology was developed through a joint project with Italian engineering firm S.R.S. (Servizi di Ricerche e Sviluppo), leading to a system that achieves high material recovery yields and offers flexibility in terms of input materials. ($1 = 0.8716 euros)
Associated Press
04-06-2025
- Entertainment
- Associated Press
Milano Cortina 2026 Unveils Olympic and Paralympic Torches for Upcoming Winter Games
International Olympic Committee news On 14 April, the torches of Milano Cortina 2026 were revealed in two simultaneous events at the Triennale di Milano and at Expo 2025 in Osaka, Japan. The torches were presented by four stars of past Olympic and Paralympic Games: Olympic champion and last torchbearer at Torino 2006Stefania Belmondo and Paralympic champion Bebe Vio in Milan, as well as Paralympic champion Martina Caironi and Carolina Kostner, bronze medallist at the Sochi 2014 Olympic Games, in Osaka. 'I have to say, it's really beautiful. Kudos to the designer because it's really wonderful in its simplicity,' said Belmondo after the torch was revealed in Milan. 'The beautiful thing is that for those that carry the torch, it will be effortless, and it has a really elegant style.' Vio, who won wheelchair fencing gold at Rio 2016 and Tokyo 2020, was equally impressed. 'It's beautiful, really gorgeous,' she said. 'I like it because it's very simple and not extravagant.' Innovation and sustainability behind the design of the Milano Cortina 2026 torchesGet your tickets today Essential: 'Spectacular, gorgeous, and the embodiment of Italian design' The Milano Cortina 2026 torches, which have been named 'Essential' as a tribute to their minimalist design, were developed by Eni, Premium Partner of Fondazione Milano Cortina 2026 Olympic and Paralympic Winter Games, in collaboration with Versalis, Official Supporter of the Games. The two versions of the torch — one for the Olympic Winter Games and the other for the Paralympic Winter Games — both feature a reflective, iridescent finish but differ in colour. The Olympic torch in blue-green hues, the Paralympic torch in bronze tones. Eni and Versalis entrusted the design development to Studio Carlo Ratti Associati, while Cavagna Group is responsible for the engineering and production of the torches and their components. 'Let's talk about this torch for a moment: it is spectacular, gorgeous, and the embodiment of Italian design,' Giovanni Malagò, President of Fondazione Milano Cortina 2026, said at the torch unveiling event in Milan. 'I thank Carlo Ratti, Cavagna Group and the design philosophy, which I love. Essentiality becomes a style, which is not minimalism — far from it — but certainly not excessive.' Apply today Where can you see the torches of Milano Cortina 2026? The two torches will be showcased at the Italia Pavilion throughout Expo 2025 in Osaka and will also be on display at the Triennale di Milano from May 2025 until the end of the Olympic and Paralympic Winter Games Milano Cortina 2026. After the Games, having written a new chapter in Olympic and Paralympic history, the Essential Olympic torch will join the prestigious collection of torches at the Olympic Museum in Lausanne, leaving a tangible legacy of innovation and sustainability for future generations. Worldwide Olympic Partner Coca-Cola has been a proud supporter of the Olympic Torch Relay for more than three decades. Worldwide Olympic and Paralympic Partner Allianz is the Presenting Partner for the Paralympic Torch Relay. Get your tickets for Milano Cortina 2026 today Tickets for the Milano Cortina 2026, Olympic Winter Games, which take place from 6-22 February 2026, as well as the Paralympic Winter Games (6-15 March 2026) are now available to the public. You can start planning your dream experience by checking the Olympic and Paralympic Winter Games calendars, then visit the official ticketing platform to purchase your tickets for the Games today. Visa is the official way to pay and in recognition of Visa's longstanding partnership with the Paralympic Games Visit 3BL Media to see more multimedia and stories from International Olympic Committee
Reuters
24-03-2025
- Business
- Reuters
Eni's chemicals unit opens new recycled plastic production plan
PORTO MARGHERA, Italy, March 24 (Reuters) - Versalis, the chemical division of Italian energy group Eni ( opens new tab, on Monday opened a plant in Porto Marghera for the production of plastics made from mechanically recycled raw materials. The opening of this factory, which produces materials for the packaging and construction sectors, is part of a multi-year strategy of the state-controlled group to overhaul its chemical business. The Reuters Power Up newsletter provides everything you need to know about the global energy industry. Sign up here. A build-up of production capacity in China and high European energy costs have put petrochemical producers under pressure, prompting groups to shut down old plants or sell assets. Eni announced last year it would invest 2 billion euros by 2029 to turn around its chemicals business, which accumulated 3 billion euros in losses in the last five years. To bring the business back to profit, the state-controlled group plans to cut the division's exposure to basic chemicals by mothballing its remaining two cracking plants in Sicily and Puglia and a polyethylene factory in Sicily. The turnaround hinges on starting new activities including plastic recycling, bio-refining and energy storage.
