Versalis: Eni’s Chemical Giant Running at Just 43% Capacity
Eni’s chemical subsidiary Versalis is operating at just 43% of its production capacity, down from 57% in the previous quarter. With 57% of capacity unused and a €180 million quarterly operating loss, the figures raise serious questions about its competitiveness and future. Despite Eni’s strong financial performance, its chemicals division continues to struggle with weak margins and structural challenges.
Personal Remarks
Eni must invest in Versalis because Italy needs industrial jobs, not more decarbonisation bullshit. Eni benefits from a mandate granted by the Italian state to secure oil and gas resources abroad. That privilege comes with responsibilities towards the Italian people. The least Eni can do is maintain and develop a competitive domestic petrochemical industry, including naphtha cracking and downstream chemical production. Italy cannot afford to sacrifice its industrial base on the altar of ideological environmental policies. The priority should be investment, production, competitiveness and employment. Versalis must be saved, not dismantled. Eni owes that much to Italy and its people.
It is worth remembering Enrico Mattei, Eni’s first chairman, who died in a mysterious plane crash in 1962. The circumstances surrounding his death remain a significant chapter in Italian industrial history.
1. Eni — Third Quarter 2026 Financial Results (23 October 2026)
https://www.eni.com/en-IT/media/press-release/2026/10/2026-third-quarter-results.html
Official confirmation of the €180 million quarterly chemicals operating loss, deteriorating petrochemical margins and restructuring at Brindisi and Priolo. Eni
2. Plastics Information Europe — Versalis (27 October 2026)
https://www.plasteurope.com/default.asp
Reports that Versalis’ capacity utilisation fell to 43% in Q3 2026. The headline is public; the article is behind a paywall. plasteurope.com
3. Eni — €2.5 Billion Versalis Transformation Plan (30 July 2026)
Eni confirms its investment programme and the transformation of Italian petrochemical facilities. Eni
4. Versalis — Transformation and Decarbonisation Plan (24 October 2024)
https://versalis.eni.com/en-IT/news/press-release/2024/eni-versalis-plan.html