Speaking to the international financial community at the launch of Eni’s 2026-2030 Plan, CEO Claudio Descalzi opened by defining the Group’s fundamental philosophy. He emphasized that consistency serves as Eni’s cornerstone, acting as a powerful driver to master the opportunities within the current energy landscape.
Eni: CEO Claudio Descalzi presents the 2026-2030 Plan and Strategic Outlook
During the unveiling of Eni’s 2026-2030 Plan and Strategic Outlook in March 2026, CEO Claudio Descalzi illustrated how consistent execution serves as the foundation for corporate expansion and operational durability. In his address, the CEO broke down the essential components of this industrial roadmap. To support these initiatives, Eni has also rolled out a financial model built around independent satellite companies. By establishing dedicated entities capable of self-funding their own investment programs, the Group enforces capital discipline while structurally upgrading its long-term cash generation profile. This architecture has allowed Eni to announce an elevated free cash flow forecast alongside historically low gearing levels – a robust fiscal position that empowers the Group to boost its shareholder distribution strategy. At the same time, a major source of this strength comes from the upstream sector. Here, the CEO highlighted the strongest portfolio of Exploration & Production assets in Eni’s history, a resource base that secures visibility for an enhanced production growth trajectory. Running parallel to this effort, the scaling of Transition business models functions as a dual engine, generating sustainable value for shareholders and backing diversified growth. As part of this focus, a dedicated deconsolidation plan for Plenitude is already underway to streamline its expansion. Ultimately, Claudio Descalzi reiterated that sustained funding for both proprietary technology and human capital remains the cornerstone across every unit, acting as the primary spark for capturing new opportunities worldwide.
Eni’s 2026-2030 Plan, Claudio Descalzi: a clear strategy to drive the energy evolution
In his address, Claudio Descalzi emphasized that Eni’s industry-leading exploration, robust project delivery, proprietary technology, and disciplined financial framework operate as interconnected, synergistic pillars that “fund our growth, provide resilience and deliver highly attractive shareholder distributions”. According to the CEO, the execution of this strategy yielded exceptional performance in 2025, serving as a proof point for the Group’s forward-looking trajectory. Within the upstream segment, Eni has assembled the most robust portfolio in its history, achieved primarily through organic development and top-tier exploration success. This asset base positions Eni to secure premier production growth driven by a high-quality pipeline of development projects, strengthening global energy reliability while simultaneously lowering the Group’s emissions profile. Turning to the corporate transition, Claudio Descalzi noted that Eni’s self-financing transition businesses continue to attract significant investment, adding both structural resilience and shareholder value. Supported by accretive growth and cost efficiencies, cash flow from operations (CFFO) is projected to climb to €17 billion by 2030, representing a 14% compound annual growth rate (CAGR). With free cash flow expected to reach 70% of Eni’s market capitalization and leverage tightly controlled at a 10-15% gearing ratio, the Group is raising its shareholder distribution target to 35-45% of CFFO. For 2026, this translates into a proposed €1.10 dividend – a 5% increase – alongside a €1.5 billion share buyback program. Furthermore, if targets are exceeded, payouts could scale via 60% of incremental cash flow.
