Anonima Petroli Italiana (api – small letters intended) is a mid-sized oil concern located in the capitol city of Rome, Italy. The company is primarily involved with the extraction and production of crude oil for the sale to the petrochemical industry. They also operate and develop oil and gas field properties from which they can provide petroleum products for sale and use in the company’s own gas station chain.
The company was founded in 1933 by Ferdinando Peretti. Through the years, they have developed an organization headed by the Gruppo api holding company. The overall group includes several important subsidiaries such as api Raffineria di Ancona SpA, api Energia SpA, Festival SpA, apioil Ltd, api GmbH and api Services Ltd., all of which have designated responsibilities in different aspects of the oil business.
api derives much of its revenues from two primary sources. In the downstream business world, they distribute semi-finished crude oil products to customers for use in the rubber and other associated industries. These petrochemical products are sold both domestically and abroad.
The company’s other primary source of income is derived from its ownership and operation of the IP gas station chain, which operates mostly in Italy. In 2005, they purchased an additional 2,600 gas stations from a company called ENI. This brought the company’s chain up to approximately 4,200 total gas stations, all of which are supported by the company’s own oil products.
api’s management is headed up by CEO and Chairman Ugo Brachetti Peretti, who currently resides over as many as 900 employees. Based on the most recent information available (fiscal year ended 2010), the company had total revenues of €2.92 billion, which resulted in net income of €180,793. The company also reported capitalization of €1.74 billion in assets and €306.46 million in total equity.