Simplify the following text for a Grade 7 native English-speaking person.
Original: Eni S.p.A. is an Italian multinational oil and gas company , present in 70 countries , and currently Italy 's largest industrial company with a market capitalization of â 87.7 billion euros ( US$ 138 billion ) , as of July 24 , 2008 .
Simplified: Eni is present in 70 countries , and currently is Italy 's largest industrial company . It has a market capitalization of â 87.7 billion euros ( US$ 138 billion ) , as of July 24 , 2008 .