Agip

Agip S.p.A., acronym for Azienda generale italiana petroli, was an Italian automotive gasoline, diesel, LPG, lubricants, fuel oil, and bitumen retailer established in 1926 and subsidiary of Eni S.p.A.

With a royal decree on April 3, 1926, the government of the Kingdom of Italy established the Azienda generale italiana petroli (Agip), a joint-stock company, to conduct all activities relating to the petroleum industry.

60 percent of the share capital was held by the Ministry of the Treasury, 20% by Istituto Nazionale Assicurazioni (INA), and the remaining 20% by the Italian Social Insurance fund.

Volpi di Misurata, however, was directly involved in oil-related interests, working together with FIAT of Giovanni Agnelli, and with the financial backing of Banca Commerciale Italiana, which had searched unsuccessfully for oil in Emilia-Romagna.

In 1927 a Mining Act was enacted, which gave the ownership of the subsoil to the State and imposed the rule that any oil-related activity was subject to government authorization and/or grant.