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Guarantees, commitments and risks (Tables)
 12 Months Ended
Dec. 31, 2017
Guarantees Commitments And Risks  
Disclosure of detailed information about guarantees [text block]

Guarantees

    December 31, 2017   December 31, 2016
(€ million)  

Unsecured

guarantees

 

Other

guarantees

  Total  

Unsecured

guarantees

 

Other

guarantees

  Total
Consolidated subsidiaries             5,594       5,594               5,868       5,868  
Unconsolidated subsidiaries             181       181               246       246  
Consolidated joint operations             1       1               1       1  
Joint ventures and associates     6,124       3,922       10,046       6,124       2,112       8,236  
Others             352       352               202       202  
      6,124       10,050       16,174       6,124       8,429       14,553  
Disclosure of detailed information about commitments and risks [text block]

Commitments and risks

(€ million)   December 31, 2017   December 31, 2016
Commitments     14,498       20,682  
Risks     691       605  
      15,189       21,287  
Disclosure of detailed information about value at risk - parametric method variance/covariance [text block]

The following table shows amounts in terms of VaR, recorded in 2017 (compared with 2016) relating to interest rate and exchange rate risks in the first section and commodity risk. Regarding the management of strategic liquidity, the sensitivity to change of interest rates is expressed by the values of  “Dollar Value per Basis Point” (DVBP).

(Value at risk — parametric method variance/covariance; holding period: 20 days; confidence level: 99%)

    2017   2016
(€ million)   High   Low   Average   At year end   High   Low   Average   At year end
Interest rate(a)     3.76       1.72       2.38       2.58       5.27       2.55       3.62       3.42  
Exchange rate(a)     0.57       0.08       0.22       0.26       0.34       0.04       0.14       0.17  

________

  (a) Value at risk deriving from interest and exchange rates exposures include the following finance department: Eni Corporate Treasury Department, Eni Finance International SA, Banque Eni SA and Eni Finance USA Inc.
Disclosure of detailed information about value at risk - Historic simulation weighted method [text block]

(Value at risk — Historic simulation weighted method; holding period: 1 day; confidence level: 95%)

    2017   2016
(€ million)   High   Low   Average   At year end   High   Low   Average   At year end
Commercial exposures -
Management Portfolio(a)		     21.14       5.15       12.24       5.15       19.03       4.23       10.24       9.41  
Trading(b)     2.29       0.21       0.79       0.66       2.58       0.27       0.87       1.35  

________

  (a) Refers to the Gas & LNG Marketing Power business line (risk exposure from Refining & Marketing business line and Gas & Power Division), Eni Trading & Shipping commercial portfolio, operating branches outside Italy pertaining to the Divisions and from October 2016 the Gas and Luce Business line. For the gas&power business lines, following the approval of the Eni’s Board of Directors on December 12, 2013, VaR is calculated on the so-called Statutory view, with a time horizon that coincides with the year considering all the volumes delivered in the year and the relevant financial hedging derivatives. Consequently, in the year the VaR pertaining to GLP and EGL presents a decreasing trend following the progressive reaching of the maturity of the positions within the annual horizon.
  (b) Cross-commodity proprietary trading, both for commodity contracts and financial derivatives, refers to Eni Trading & Shipping SpA (London-Bruxelles-Singapore) and Eni Trading & Shipping Inc (Houston).
Disclosure of detailed information about maturity analysis for finance debt repayments including interest charges and derivatives [text block]

The table below summarizes the Group main contractual obligations for finance liability repayments, including expected payments for interest charges and derivatives.

    Maturity year
(€ million)   2018   2019   2020   2021   2022  

2023 and

thereafter

  Total
December 31, 2017                                                        
Non-current financial liabilities     2,000       4,084       2,857       1,279       1,246       10,810       22,276  
Current financial liabilities     2,242                                               2,242  
Fair value of derivative instruments     1,011       64       10       1       16               1,102  
      5,253       4,148       2,867       1,280       1,262       10,810       25,620  
Interest on finance debt     582       511       411       304       250       1,455       3,513  
Financial guarantees     473                                               473  

 

    Maturity year
(€ million)   2017   2018   2019   2020   2021  

2022 and

thereafter

  Total
December 31, 2016                                                        
Non-current financial liabilities     2,988       2,090       4,044       2,914       1,285       10,332       23,653  
Current financial liabilities     3,396                                               3,396  
Fair value of derivative instruments     2,108       36       76               46       3       2,269  
      8,492       2,126       4,120       2,914       1,331       10,335       29,318  
Interest on finance debt     696       557       486       386       277       1,605       4,007  
Financial guarantees     84                                               84  
Disclosure of detailed information about group trade and other payables by maturity [text block]

Trade and other payables

The table below summarizes the Group trade and other payables by maturity.

    Maturity year
(€ million)   2018   2019 – 2022  

2023 and

thereafter

  Total
December 31, 2017                                
Trade payables     10,890                       10,890  
Other payables and advances     5,858       19       26       5,903  
      16,748       19       26       16,793  

 

    Maturity year
(€ million)   2017   2018 – 2021  

2022 and

thereafter

  Total
December 31, 2016                                
Trade payables     11,038                       11,038  
Other payables and advances     5,665       29       22       5,716  
      16,703       29       22       16,754  
Disclosure of detailed information about expected payments by period under contractual obligations [text block]

The table below summarizes the Group principal contractual obligations as of the balance sheet date, shown on an undiscounted basis.

    Maturity year
(€ million)   2018   2019   2020   2021   2022  

2023 and

thereafter

  Total
Operating lease obligations(a)     883       525       485       371       329       1,939       4,532  
Decommissioning liabilities(b)     348       411       398       375       207       13,047       14,786  
Environmental liabilities     317       311       282       228       178       1,357       2,673  
Purchase obligations(c)     10,989       9,862       8,223       8,233       8,071       62,452       107,830  
- Gas                                                        
- take-or-pay contracts     8,644       8,708       7,452       7,542       7,553       60,345       100,244  
- ship-or-pay contracts     1,272       760       516       468       380       1,291       4,687  
- Other ship-or-pay obligations     110       99       87       73       59       161       589  
- Other purchase obligations(d)     963       295       168       150       79       655       2,310  
Other obligations     11       3       2       2       2       108       128  
- Memorandum of intent relating Val d’Agri     11       3       2       2       2       108       128  
      12,548       11,112       9,390       9,209       8,787       78,903       129,949  

_________

  (a) Operating leases primarily regarded assets for drilling activities, time charter and long term rentals of vessels, lands, service stations and office buildings. Such leases generally did not include renewal options. There are no significant restrictions provided by these operating leases which limit the ability of the Company to pay dividend, use assets or to take on new borrowings.
  (b) Represents the estimated future costs for the decommissioning of oil and natural gas production facilities at the end of the producing lives of fields, well-plugging, abandonment and site restoration.
  (c) Represents any agreement to purchase goods or services that is enforceable and legally binding and that specifies all significant terms.
  (d) Mainly refers to arrangements to purchase capacity entitlements at certain regasification facilities in the U.S. (€948 million).
Disclosure of committed projects [text block]

The amounts shown in the table below include committed expenditures to execute certain environmental projects.

    Maturity year
(€ million)   2018   2019   2020   2021   2022 and
thereafter		   Total
Committed projects     6,309       5,688       4,717       3,375       3,770       23,859  
Disclosure of detailed information about other information about financial instruments [text block]

The carrying amount of financial instruments and the relevant economic and equity effect consisted of the following:

 

    2017   2016
       

Finance income (expense)

recognized in

     

Finance income (expense)

recognized in

(€ million)  

Carrying

amount

 

Profit

and loss

account

 

Other

comprehensive

income

 

Carrying

amount

  

Profit

and loss

account

 

Other

comprehensive

income

Held-for-trading financial instruments                                                
Securities(a)     6,012       (111 )             6,166       (21 )        
Non-hedging and trading derivatives(b)     209       793               87       (465 )        
Held-to-maturity financial instruments                                                
Securities(a)     73                       75                  
Available-for-sale financial instruments                                                
Securities(a)     207       9       (4 )     238       9       (4 )
Receivables and payables and other assets/liabilities valued at amortized cost                                                
Trade receivables and other(c)     15,583       (958 )             17,324       (1,116 )        
Financing receivables(a)     1,918       (116 )             2,328       128          
Trade payables and other(d)     16,793       (51 )             16,754       287          
Financing payables(a)     24,707       (1,137 )             27,239       (291 )        
Net assets (liabilities) for hedging derivatives (e)             (42 )     (6 )             (524 )     883  

________

  (a) Income or expense were recognized in the profit and loss account within “Finance income (expense)”.
  (b) In the profit and loss account, economic effects were recognized as loss within “Other operating income (loss)” for €44 million (income for €17 million in 2016) and as income within “Finance income (expense)” for €837 million (loss for €482 million in 2016).
  (c) In the profit and loss account, economic effects were essentially recognized as expense within “Purchase, services and other” for €933 million (expense for €840 million in 2016) (impairments net of reversal) and as expense for €25 million within “Finance income (expense)” (expense for €276 million in 2016) (exchange rate differences at year-end and amortized cost).
  (d) In the profit and loss account, exchange differences arising from accounts denominated in foreign currency and translated into euro at year-end were primarily recognized within “Finance income (expense)”.
  (e) In the profit and loss account, income or expense were recognized within “Net sales from operations” and “Purchase, services and other” as expense for €54 million (expense for €523 million in 2016) and as income within “Finance income (expense)” for €12 million (expense for €1 million in 2016) (time value component).
Disclosure of off setting of financial assets and financial liabilities [text block]

The table below summarizes the disclosures about the offsetting of financial instruments.

(€ million)   Gross amount
of financial
assets and
liabilities		   Gross amount
of financial
assets and
liabilities
subject to
offsetting		   Net amount of
financial
assets and
liabilities
December 31, 2017                        
Financial assets                        
Trade and other receivables     16,952       1,215       15,737  
Other current assets     2,852       1,279       1,573  
Financial liabilities                        
Trade and other liabilities     17,963       1,215       16,748  
Other current liabilities     2,794       1,279       1,515  
December 31, 2016                        
Financial assets                        
Trade and other receivables     18,489       896       17,593  
Other current assets     3,872       1,281       2,591  
Financial liabilities                        
Trade and other liabilities     17,599       896       16,703  
Other current liabilities     3,880       1,281       2,599