ERG S.p.A. Stock

ERG S.p.A. engages in oil refining; the distribution of petroleum products in Italy and abroad; and the production and sale of electricity, steam, and gas.

Divisions

The company operates in four divisions: Coastal Refining, Integrated Downstream, Thermoelectric Power Generation, and Renewable Energy Sources.

Coastal Refining

The company, through its subsidiary ERG Raffinerie Mediterranee S.p.A. (ERG Med), acquires and processes crude oil, and sells refined products on the cargo market. It refines crude oil at the ISAB Refinery in Priolo (51% ERG Med – 49% Lukoil Europe Holdings B.V.), a refinery in the Mediterranean area with capacity of approximately 320,000 bbl/day.

Integrated Downstream

The company is active in marketing of petroleum products through its subsidiary ERG Petroli S.p.A., principally in Italy through its retail and wholesale network. The company’s principal assets are represented by a retail network of approximately 2,000 service stations, by investments in two refineries, at Trecate and Rome, with a combined processing capacity of approximately 60,000 bbl/day, and by the logistics system.

Thermoelectric Power Generation

The company's manages and develops the generation and sale of thermoelectric power, steam, and gas through its subsidiary ERG Power & Gas S.p.A. The main subsidiaries of ERG Power & Gas are ISAB Energy S.r.l., which generates electricity at a 528 MW capacity power plant fuelled by syngas, which is made from the gasification of processing residues (asphalt) originating from the ISAB Refinery; ISAB Energy Services S.r.l., which is the operating and maintenance company of the utilities and electric power and steam plants at the ERG Group’s Priolo site; ERG Nuove Centrali S.p.A., which owns the North Power Plant, which has an operating capacity of approximately 150 MW and uses fuel oil and fuel gas as its feedstock; and Ionio Gas S.r.l., which is an equal joint venture with Shell Energy Italia S.r.l. for the development of a Liquefied Natural Gas regasification plant at Priolo, Sicily.

Renewable Energy Sources

The company generates electricity from renewable sources through its subsidiary ERG Renew S.p.A. (77.4% owned by the company). It has an installed capacity of 199 MW (including 144 MW in Italy and 55 MW in France) and a capacity of approximately 2 MW in the mini-hydropower sector.

Acquisitions

In December 2008, the company’s subsidiary, ERG Petroli S.p.A., acquired 100% of the company Euroil S.r.l.

Dispositions

In September 2008, the company’s subsidiary, ERG Renew S.p.A., sold its equity investment in Eolo S.r.l., equal to 51% of the share capital, to EOSWindenergy S.r.l.

History

ERG S.p.A. was founded in 1938.