In order to improve the level of its stakeholders information, to evaluate its own strategy in consideration of competitors' best practices and to identify the gap between companies performances, Eni-Agip Exploration & Production Division jointly with Fondazione Eni Enrico Mattei carried out a competitive environmental benchmarking. This study selected and analysed several environmental reports published annually by companies operating in the energy sector, particularly Oil and Gas E&P Industry. Although the comparison of reports is in practice not as obvious as it is in theory, the above analysis was capable of benchmarking E&P companies reports from both the qualitative (policies, programmes and practices) and the quantitative (data, objectives and indicators) points of view. The analysis produced interesting suggestions not only for communication purposes, but also for internal management objectives. Eni is fully aware that it is necessary to enhance the degree and the transparency of the information, the communicative effectiveness and, as a consequence, to give the public a better opportunity for judging the company environmental performances. The disclosure of programmes and objectives, the definition of significant performance indicators, the amplification of site level data, the indication of the benefits obtained from environmental expenditures, the information on social aspects and impacts are all issues to be taken into account for future environmental reporting.