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Eni SpA, NYSE symbol E, is an integrated energy company having operations involving oil, gas, electricity, petrochemicals, and engineering. The company, which is headquartered in Rome, Italy, currently has operations in Italy, the United Kingdom, Norway, Libya, Egypt, Angola, Nigeria, Congo, the United States, Kazakhstan, Russia, and Australia. One part of the company is involved with the exploration of oil and natural gas which is becoming more important as world demand increases and the price of oil continues to rise. Eni SpA also supplies, transports, distributes, and markets natural gas and produces electricity. Another division refines and markets petroleum products and runs retail fuel stations. Eni SpA's petrochemical products include olefins and aromatics which are involved with producing diesel fuel from vegetable oil. Another part of Eni SpA, which may become important to the United States and the offshore drilling

Eni SpA, NYSE symbol E, is an integrated energy company having operations involving oil, gas, electricity, petrochemicals, and engineering. The company, which is headquartered in Rome, Italy, currently has operations in Italy, the United Kingdom, Norway, Libya, Egypt, Angola, Nigeria, Congo, the United States, Kazakhstan, Russia, and Australia. One part of the company is involved with the exploration of oil and natural gas which is becoming more important as world demand increases and the price of oil continues to rise. Eni SpA also supplies, transports, distributes, and markets natural gas and produces electricity. Another division refines and markets petroleum products and runs retail fuel stations. Eni SpA's petrochemical products include olefins and aromatics which are involved with producing diesel fuel from vegetable oil. Another part of Eni SpA, which may become important to the United States and the offshore drilling ambitions recently verbalized by both presidential candidates, is its offshore construction, sub sea pipe laying, floating production systems, and on and offshore drilling services.
   The Integrated Oil and Gas Industry has been hit hard the past three months with only two stocks in the industry coming out with gains and most other stocks down double digit percentiles. Eni SpA is down 18% which is no different than the industry as a whole and with the S&P 500 through mid July when the market took an upturn. The P/E ratio on Friday August 8 was 6.52 which is pretty low, but could be overemphasized due to the recent inflation of prices. The P/B ratio is also low at 2.11, appealing to value investors. The 52 week range is 59.72-85.16 closing at 63.87. Recently Eni SpA became the largest shareholder of Hindustran Oil Exploration Company, which will be a great investment due to the greater demand for oil in India and surrounding areas. Eni SpA recently met with the senior officials of Iraq's ministry of oil discussing future cooperation on refining, drilling and oil and gas transportation sectors in Iraq. However, Deere and Co reduced their holdings and Ferris Baker Watts Incorporated has completely dumped all their holdings.
   A weakness of the Eni SpA stock is the recent downturn to the price of oil. The whole Integrated Oil and Gas Industry has fallen significantly since the recent talks of offshore drilling. However this is a strength for the company due to it sectors specializing in offshore construction, sub sea pipe laying, and floating production systems. Also, I think with the recent Russian invasion of Georgia the futures of oil will go up and therefore the current price will go up because of three major oil pipelines currently located in Georgia. One has closed and two others have reduced production. Natural gas has recently been popularized by the like of T. Boone Pickens, and if that catches on Eni SpA's business will go up. My overall recommendation of Eni SpA is a buy due to its diverse products and the necessity for energy.