Eni to shun oil refining in favor of biodiesel

In Italy, Eni’s CEO told the Senate’s industrial committee that the company plans to restructure itself away from oil refining—an industry that has suffered losses of EUR6 billion since 2009—and instead focus on biodiesel and other alternative fuels. In this way it can avoid laying off staff, keep its manufacturing facilities operating, but refine biodiesel instead of fossil diesel.