ENI SPA | CIK:0001002242 | 3

  • Filed: 4/13/2018
  • Entity registrant name: ENI SPA (CIK: 0001002242)
  • Generator: Unknown
  • SEC filing page: http://www.sec.gov/Archives/edgar/data/1002242/000117494718000616/0001174947-18-000616-index.htm
  • XBRL Instance: http://www.sec.gov/Archives/edgar/data/1002242/000117494718000616/e-20171231.xml
  • XBRL Cloud Viewer: Click to open XBRL Cloud Viewer
  • EDGAR Dashboard: https://edgardashboard.xbrlcloud.com/edgar-dashboard/?cik=0001002242
  • Open this page in separate window: Click
  • ifrs-full:DisclosureOfInventoriesExplanatory

    12 Inventories

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

    Crude oil,

    gas and

    petroleum

    products

     

    Chemical

    products

      Other   Total  

    Crude oil,

    gas and

    petroleum

    products

     

    Chemical

    products

      Other   Total
    Raw and auxiliary materials and consumables     785       140       1,640       2,565       550       135       1,903       2,588  
    Products being processed and semi-finished products     133       7               140       99       9       1       109  
    Work in progress                     1       1                       2       2  
    Finished products and goods     1,287       489       83       1,859       1,394       389       86       1,869  
    Certificates and emission rights                     56       56                       69       69  
          2,205       636       1,780       4,621       2,043       533       2,061       4,637  

    Other inventories of raw and auxiliary materials and consumables of  €1,640 million (€1,903 million at December 31, 2016) related to the Exploration & Production segment for €1,441 million (€1,699 million at December 31, 2016) and primarily comprised materials relating to perforation activities and the maintenance of infrastructures and facilities.

    Certificates and emission rights of  €56 million (€69 million at December 31, 2016) are measured at the fair value determined based on market quotations. The fair value hierarchy is level 1.

    Inventories of  €86 million (€82 million at December 31, 2016) were pledged to guarantee the estimated imbalance in volumes input to/off-taken from the national gas network operated by Snam Rete Gas SpA.

    Changes in inventories and in the loss provision were as follows:

        2017   2016
    (€ million)  

    Gross carrying

    amount

     

    Loss

    provision

     

    Net carrying

    amount

     

    Gross carrying

    amount

     

    Loss

    provision

     

    Net carrying

    amount

    Carrying amount at the beginning of the year     4,892       (255 )     4,637       4,887       (308 )     4,579  
    Changes     314               314       (29 )             (29 )
    New or increased provisions             (81 )     (81 )             (125 )     (125 )
    Deductions             18       18               163       163  
    Currency translation differences     (254 )     22       (232 )     61       (5 )     56  
    Other changes     (86 )     51       (35 )     (27 )     20       (7 )
    Carrying amount at the end of the year     4,866       (245 )     4,621       4,892       (255 )     4,637  

    Changes of the period amounting to €314 million related to the business lines Refining & Marketing for €192 million and Chemical for €129 million. Loss provision of €245 million related to the Exploration & Production segment for €191 million.