The Rise of AGIP: From Italian Roots to Oil Supremacy We weren’t able to create a summary for you. Refresh your page to try again. Agip experienced difficulties after the crisis of 1929 but began to flourish in the 1930s. In 1933 a new law was issued that restrained protectionist refineries and Agip could operate with greater ease in this area. Agip experienced difficulties after the crisis of 1929 but began to flourish in the 1930s. In 1933 a new law was issued that restrained protectionist refineries and Agip could operate with greater ease in this area. The petroleum company AGIP (Azienda Generale Italiana Petroli), which became a division of ENI in 1953, discovered natural gas in the Po valley and sold it at low prices to industry. The petroleum company AGIP (Azienda Generale Italiana Petroli), which became a division of ENI in 1953, discovered natural gas in the Po valley and sold it at low prices to industry. Agip experienced difficulties after the crisis of 1929 but began to flourish in the 1930s. In 1933 a new law was issued that restrained protectionist refineries and Agip could operate with greater ease in this area. The petroleum company AGIP (Azienda Generale Italiana Petroli), which became a division of ENI in 1953, discovered natural gas in the Po valley and sold it at low prices to industry. In Caviaga and Cortemaggiore two large deposits are discovered: Italy has its own energy. The National Hydrocarbons Agency (Eni) was born in 1953 and Enrico Mattei was its first president. Azienda Generale Italiana Petroli (Agip) was a state-owned Italian petroleum corporation founded on 3 April 1926 by royal decree under Benito Mussolini's government to explore for and develop oil and natural gas resources, initially focusing on domestic and colonial territories. The Italian General Petroleum Company (Azienda generale italiana petroli, Agip) was created by Mussolini in 1927 as a public company, with 60% state capital and 20% each by Ina e Inps.