Eni to Convert Sannazzaro Refinery Units to Boost Biofuel Capacity

Eni S.p.A E, an Italian oil and gas firm, announced that the Italian ministry of the Environment and Energy Security has granted its consent to transform certain units of Eni’s Sannazzaro de’ Burgondi refinery into a biorefinery for the production of renewable fuels. The company has stated that the conversion will not affect the existing refinery’s processing capacity, and the biorefinery’s operations will continue alongside existing refinery operations.Authorization and Environmental AssessmentEni has begun the authorization process associated with this conversion. The company has also applied for an Environmental Impact Assessment for the new project. The project aims to convert the refinery’s existing Hydrocracker unit to produce biofuels from biogenic feedstocks. The conversion process utilizes Ecofining technology and involves the development of a pre-treatment unit for processing waste materials, like animal fat and other residues. These residual materials will be used primarily for the production of HVO biofuels (Hydrotreated Vegetable Oil).Focus on Sustainable Aviation Fuel (SAF) and HVO DieselThe hydrogen required for the new biorefinery will be supplied from the existing plants at the facility. Moreover, the associated infrastructure will be upgraded to support new operations at the refinery. Eni has mentioned that the refinery will continue to produce traditional fuels alongside HVO diesel and sustainable aviation fuel (SAF) production. The production of renewable fuels is anticipated to commence in 2028.The biorefinery is expected to have a processing capacity of 550,000 tons of feedstocks per year, with operational flexibility to produce SAF-biojet and HVO diesel. For producing HVO diesel and SAF, the plant will utilize biogenic feedstocks, including used cooking oil, agricultural byproducts and other residual materials. Through Enilive, the company has already established itself as a distinguished producer of HVO biofuels in Europe.Eni’s European Biorefining LeadershipThrough this initiative at the Sannazzaro de’ Burgondi refinery, Eni is reinforcing its commitment to expand its biorefining capacity via Enilive. At present, the biorefining capacity stands at 1.65 million tons per year, which the company plans to increase to over 3 million tons per annum in 2028 and more than 5 million tons per year by the end of this decade. This also includes the possibility of increasing SAF production to nearly 2 million tons annually by 2030.Future Plans for ExpansionThe company mentioned that its current biofuel production comes from Enilive’s Venice and Gela biorefineries. It also produces biofuels at the St. Bernard biorefinery in Louisiana, which it operates as a 50% joint venture with PBF Energy. E added that a third biofuels plant in Livorno is expected to commence operations in 2026. Furthermore, two other plants are currently under development in Malaysia and South Korea.E’s Zacks Rank & Other Key PicksCurrently, E carries a Zacks Rank #2 (Buy).Some other top-ranked stocks from the energy sector are Repsol S.A. REPYY, Galp Energia SGPS SA GLPEY and Archrock Inc. AROC. While Repsol sports a Zacks Rank #1 (Strong Buy), Galp Energia and Archrock carry a Zacks Rank #2 each. You can see the complete list of today’s Zacks Rank #1 stocks here.Repsol is a global multi-energy company, involved in exploration and production activities as well as refining and marketing petroleum products. The company is also actively involved in transitioning toward cleaner and more sustainable energy solutions. This suggests that Repsol is positioning itself in line with global energy transition needs.Galp Energia is a Portuguese energy company engaged in exploration and production activities. The company’s oil exploration efforts have yielded positive results, particularly the Mopane discovery in the Orange Basin, offshore Namibia. After the initial exploration phase, Galp estimated that the Mopane prospect could hold nearly 10 billion barrels of oil. This discovery allows Galp to diversify its global presence, with the potential to become a significant oil producer in the region.Archrock is an energy infrastructure company based in the United States with a focus on midstream natural gas compression. It provides natural gas contract compression services and generates stable, fee-based revenues. With natural gas playing an increasingly important role in the energy transition journey, AROC is expected to witness sustained demand for its services.Quantum Computing Stocks Set To SoarArtificial intelligence has already reshaped the investment landscape, and its convergence with quantum computing could lead to the most significant wealth-building opportunities of our time.Today, you have a chance to position your portfolio at the forefront of this technological revolution. In our urgent special report, Beyond AI: The Quantum Leap in Computing Power, you'll discover the little-known stocks we believe will win the quantum computing race and deliver massive gains to early investors.Access the Report Free Now >>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 Repsol SA (REPYY): Free Stock Analysis Report Galp Energia SGPS SA (GLPEY): Free Stock Analysis Report Archrock, Inc. (AROC): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).Zacks Investment ResearchWeiter zum vollständigen Artikel bei Zacks Weiter zum vollständigen Artikel bei Zacks