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v3.19.1

Guarantees, commitments and risks (Tables) | 12 Months Ended
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Dec. 31, 2018
Disclosure of detailed information about guarantees [text block] | Guarantees
(€ million) |  | December 31, 2018 |  | December 31, 2017
Consolidated subsidiaries |  |  | 5,082 |  |  |  | 5,595 |
Unconsolidated subsidiaries |  |  | 196 |  |  |  | 181 |
Joint ventures and associates |  |  | 4,056 |  |  |  | 10,046 |
Others |  |  | 163 |  |  |  | 352 |
|  |  | 9,497 |  |  |  | 16,174 |
Disclosure of detailed information about commitments and risks [text block] | Commitments and risks
(€ million) |  | December 31, 2018 |  | December 31, 2017
Commitments |  |  | 54,611 |  |  |  | 14,498 |
Risks |  |  | 673 |  |  |  | 691 |
|  |  | 55,284 |  |  |  | 15,189 |
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) |  | 2019 |  | 2020 |  | 2021 |  | 2022 |  | 2023 |  | 2024 and thereafter |  | Total
December 31, 2018 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Non-current financial liabilities (including the current portion) |  |  | 3,301 |  |  |  | 2,958 |  |  |  | 1,541 |  |  |  | 1,253 |  |  |  | 2,714 |  |  |  | 11,723 |  |  |  | 23,490 |
Current financial liabilities |  |  | 2,182 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 2,182 |
Fair value of derivative instruments |  |  | 1,445 |  |  |  | 13 |  |  |  | 1 |  |  |  | 21 |  |  |  |  |  |  |  | 5 |  |  |  | 1,485 |
|  |  | 6,928 |  |  |  | 2,971 |  |  |  | 1,542 |  |  |  | 1,274 |  |  |  | 2,714 |  |  |  | 11,728 |  |  |  | 27,157 |
Interest on finance debt |  |  | 655 |  |  |  | 545 |  |  |  | 436 |  |  |  | 330 |  |  |  | 320 |  |  |  | 1,677 |  |  |  | 3,963 |
Financial guarantees |  |  | 668 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 668 |
|  | Maturity year
(€ million) |  | 2018 |  | 2019 |  | 2020 |  | 2021 |  | 2022 |  | 2023 and thereafter |  | Total
December 31, 2017 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Non-current financial liabilities (including the current portion) |  |  | 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 |
Disclosure of detailed information about trade and other payables by maturity [text block] | The table below summarizes the Group trade and other payables by maturity.
|  | Maturity year
(€ million) |  | 2019 |  | 2020 – 2023 |  | 2024 and thereafter |  | Total
December 31, 2018 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Trade payables |  |  | 11,645 |  |  |  |  |  |  |  |  |  |  |  | 11,645 |
Other payables and advances |  |  | 5,102 |  |  |  | 59 |  |  |  | 96 |  |  |  | 5,257 |
|  |  | 16,747 |  |  |  | 59 |  |  |  | 96 |  |  |  | 16,902 |
|  | 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 |
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) |  | 2019 |  | 2020 |  | 2021 |  | 2022 |  | 2023 |  | 2024 and thereafter |  | Total
Operating lease obligations (a) |  |  | 776 |  |  |  | 601 |  |  |  | 481 |  |  |  | 303 |  |  |  | 268 |  |  |  | 1,524 |  |  |  | 3,953 |
Decommissioning liabilities (b) |  |  | 335 |  |  |  | 294 |  |  |  | 407 |  |  |  | 260 |  |  |  | 124 |  |  |  | 12,394 |  |  |  | 13,814 |
Environmental liabilities |  |  | 349 |  |  |  | 321 |  |  |  | 254 |  |  |  | 239 |  |  |  | 188 |  |  |  | 1,245 |  |  |  | 2,596 |
Purchase obligations (c) |  |  | 14,674 |  |  |  | 11,258 |  |  |  | 10,649 |  |  |  | 9,683 |  |  |  | 9,546 |  |  |  | 76,014 |  |  |  | 131,824 |
- Gas |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
- take-or-pay contracts |  |  | 11,886 |  |  |  | 10,470 |  |  |  | 9,995 |  |  |  | 9,276 |  |  |  | 9,210 |  |  |  | 75,035 |  |  |  | 125,872 |
- ship-or-pay contracts |  |  | 1,164 |  |  |  | 558 |  |  |  | 482 |  |  |  | 382 |  |  |  | 324 |  |  |  | 941 |  |  |  | 3,851 |
- Other purchase obligations |  |  | 1,624 |  |  |  | 230 |  |  |  | 172 |  |  |  | 25 |  |  |  | 12 |  |  |  | 38 |  |  |  | 2,101 |
Other obligations |  |  | 8 |  |  |  | 1 |  |  |  | 1 |  |  |  | 1 |  |  |  | 1 |  |  |  | 104 |  |  |  | 116 |
- Memorandum of intent Val d’Agri |  |  | 8 |  |  |  | 1 |  |  |  | 1 |  |  |  | 1 |  |  |  | 1 |  |  |  | 104 |  |  |  | 116 |
|  |  | 16,142 |  |  |  | 12,475 |  |  |  | 11,792 |  |  |  | 10,486 |  |  |  | 10,127 |  |  |  | 91,281 |  |  |  | 152,303 |
(a) 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.
Disclosure of committed projects [text block] | The amounts shown in the table below include committed expenditures to execute certain environmental projects.
|  | Maturity year
(€ million) |  | 2019 |  | 2020 |  | 2021 |  | 2022 |  | 2023 and thereafter |  | Total
Committed projects |  |  | 6,492 |  |  |  | 4,917 |  |  |  | 3,458 |  |  |  | 1,910 |  |  |  | 3,629 |  |  |  | 20,406 |
Disclosure of detailed information about financial instruments [text block] | The carrying amount of financial instruments and the relevant economic and equity effect consisted of the following:
|  | 2018 |  | 2017
|  | 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 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Financial assets held for trading (a) |  |  | 6,552 |  |  |  | 32 |  |  |  |  |  |  |  | 6,012 |  |  |  | (111 | ) |  |  |  |
Non-hedging and trading derivatives (b) |  |  | 117 |  |  |  | (178 | ) |  |  |  |  |  |  | 209 |  |  |  | 793 |  |  |  |  |
Non-current financial instruments |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Held-to-maturity securities (a) |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 73 |  |  |  |  |  |  |  |  |
Available-for-sale financial instruments |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Securities (a) |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 207 |  |  |  | 9 |  |  |  | (4 | )
Other investments valued at fair value (c) |  |  | 919 |  |  |  | 231 |  |  |  | 15 |  |  |  |  |  |  |  |  |  |  |  |  |
Receivables and payables and other assets/liabilities valued at amortized cost: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Trade receivables and other (d) |  |  | 14,145 |  |  |  | (343 | ) |  |  |  |  |  |  | 15,583 |  |  |  | (958 | ) |  |  |  |
Financing receivables (e) |  |  | 1,489 |  |  |  | (139 | ) |  |  |  |  |  |  | 1,918 |  |  |  | (116 | ) |  |  |  |
Securities (a) |  |  | 64 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Trade payables and other (a) |  |  | 16,902 |  |  |  | (28 | ) |  |  |  |  |  |  | 16,793 |  |  |  | (51 | ) |  |  |  |
Financing payables (f) |  |  | 25,865 |  |  |  | (615 | ) |  |  |  |  |  |  | 24,707 |  |  |  | (1,137 | ) |  |  |  |
Net assets (liabilities) for hedging derivatives (g) |  |  |  |  |  |  | 642 |  |  |  | (243 | ) |  |  |  |  |  |  | (42 | ) |  |  | (6 | )
| (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 income within “Other operating income (loss)” for €129 million (loss for €44 million in 2017) and as loss within “Finance income (expense)” for €307 million (income for €837 million in 2017).
| (c) | Income or expense were recognized in the profit and loss account within “Income (expense) from investments — Dividends”.
| (d) | Income or expense were recognized in the profit and loss account as net impairment losses within “Net (impairment losses) reversal of trade and other receivables” for €415 million (net impairment losses for €913 million in 2017) and as income within “Finance income (expense)” for €69 million (expenses for €45 million in 2017), including interest income calculated on the basis of the effective interest rate of  €38 million.
| (e) | In the profit and loss account, income or expense were recognized as expense within “Finance income (expense)” for €139 million (€116 million in 2017), including interest income calculated on the basis of the effective interest rate of  €129 million (€128 million in 2017) and net impairment losses for €275 million.
| (f) | In the profit and loss account, income or expense were recognized as expense within “Finance income (expense)” for €615 million (€1,137 million in 2017), including interest income calculated on the basis of the effective interest rate of  €605 million (€654 million in 2017).
| (g) | In the profit and loss account, income or expense were recognized within “Net sales from operations” and “Purchase, services and other” as income for €642 million (expense for €54 million in 2017), and as income within “Other operating income (expense)” for €12 million in 2017.
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, 2018 |  |  |  |  |  |  |  |  |  |  |  |
Financial assets |  |  |  |  |  |  |  |  |  |  |  |
Trade and other receivables |  |  | 15,634 |  |  |  | 1,533 |  |  |  | 14,101 |
Other current assets |  |  | 3,894 |  |  |  | 1,636 |  |  |  | 2,258 |
Financial liabilities |  |  |  |  |  |  |  |  |  |  |  |
Trade and other liabilities |  |  | 18,280 |  |  |  | 1,533 |  |  |  | 16,747 |
Other current liabilities |  |  | 5,616 |  |  |  | 1,636 |  |  |  | 3,980 |
December 31, 2017 |  |  |  |  |  |  |  |  |  |  |  |
Financial assets |  |  |  |  |  |  |  |  |  |  |  |
Trade and other receivables |  |  | 16,636 |  |  |  | 1,215 |  |  |  | 15,421 |
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 |
Disclosure Of commodity contracts and financial derivatives [Text Block] | (Sensitivity — Dollar value of 1 basis point — DVBP)
|  |  | 2018 |  |  | 2017 |
(€ million) |  |  | High |  |  | Low |  |  | Average |  |  | At year end |  |  | High |  |  | Low |  |  | Average |  |  | At year end |
Strategic liquidity (a) |  |  |  |  | 0.35 |  |  |  |  |  | 0.25 |  |  |  |  |  | 0.29 |  |  |  |  |  | 0.25 |  |  |  |  |  | 0.41 |  |  |  |  |  | 0.27 |  |  |  |  |  | 0.35 |  |  |  |  |  | 0.27 |  |
| (a) | Management of strategic liquidity portfolio starting from July 2013.
(Sensitivity — Dollar value of 1 basis point — DVBP)
|  |  | 2018 |  |  | 2017 |
($ million) |  |  | High |  |  | Low |  |  | Average |  |  | At year end |  |  | High |  |  | Low |  |  | Average |  |  | At year end |
Strategic liquidity (b) |  |  |  |  | 0.04 |  |  |  |  |  | 0.01 |  |  |  |  |  | 0.02 |  |  |  |  |  | 0.02 |  |  |  |  |  | 0.04 |  |  |  |  |  | 0.02 |  |  |  |  |  | 0.03 |  |  |  |  |  | 0.03 |  |
| (b) | Management of strategic liquidity portfolio in $currency starting from August 2017.
Parametric Method Variance Covariance [Member] |
Sensitivity analysis for types of market risk [text block] | The following table shows amounts in terms of VaR, recorded in 2018 (compared with 2017) relating to interest rate and exchange rate risks in the first section and commodity risk. Regarding the management of strategic liquidity, the sensitivity to changes of interest rate is expressed by values of  “Dollar value per Basis Point” (DVBP). (Value at risk — parametric method variance/covariance; holding period: 20 days; confidence level: 99%)
|  | 2018 |  | 2017
(€ million) |  | High |  | Low |  | Average |  | At year end |  | High |  | Low |  | Average |  | At year end
Interest rate (a) |  |  | 3.65 |  |  |  | 1.80 |  |  |  | 2.73 |  |  |  | 2.99 |  |  |  | 3.76 |  |  |  | 1.72 |  |  |  | 2.38 |  |  |  | 2.58 |
Exchange rate (a) |  |  | 0.57 |  |  |  | 0.09 |  |  |  | 0.28 |  |  |  | 0.25 |  |  |  | 0.57 |  |  |  | 0.08 |  |  |  | 0.22 |  |  |  | 0.26 |
| (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.
Historic Simulation Weighted Method [Member] |
Sensitivity analysis for types of market risk [text block] | (Value at risk — Historic simulation weighted method; holding period: 1 day; confidence level: 95%)
|  | 2018 | 2017
(€ million) |  | High |  | Low |  | Average |  | At year end |  | High |  | Low |  | Average |  | At year end
Commercial exposures –  Management Portfolio (a) |  |  | 18.60 |  |  |  | 6.79 |  |  |  | 11.04 |  |  |  | 7.50 |  |  |  | 21.14 |  |  |  | 5.15 |  |  |  | 12.24 |  |  |  | 5.15 |
Trading (b) |  |  | 2.28 |  |  |  | 0.26 |  |  |  | 0.73 |  |  |  | 0.27 |  |  |  | 2.29 |  |  |  | 0.21 |  |  |  | 0.79 |  |  |  | 0.66 |
| (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).

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