The establishment of the company in 1906, was promoted by Banco Ricchini of Genoa, for the extraction, refining and trade of oil, from the merger of two French companies: Société Francaise des Petroles and Société Petroles de Montechino. In the early years, all the refineries in the area of Fiorenzuola d'Arda, in the province of Piacenza, were acquired by the company. The company contributed to the establishment of Metangas, in the early 1940s, which had been granted some permits to search for methane in Polesine. During the Second World War, many plants were destroyed and in the following years many were replaced and upgraded. During the same period, the company's entire business activity was reviewed and improved. In 1958, despite the efforts of the company's top management, the company was admitted to the arrangement procedure.