Oct 07 - Eni Launches Specialised Trading & Shipping Business

Source Press Release
Company ENI S.p.A. 
Tags Pipelines/ tankers/ distribution
Date October 05, 2007

Eni’s wholly-owned subsidiary, Eni Trading and Shipping S.p.A, which specialises in trading oil-related commodities and the coordination of related shipping services, began operating on 1 October 2007.

Eni Trading&Shipping follows the increasing need for dynamism and flexibility in the oil products market. Eni Trading&Shipping will be Eni’s single interface to international crude oil, oil product and shipping markets, reinforcing the company’s dynamic and flexible trading operations and reflecting the changing international marketplace. Specifically, the business will:

  • trade international equity production
  • procure crude and feedstock and place refined products on cargo markets
  • provide price risk management services to Eni’s Divisions and subsidiaries
  • provide transport and maritime services

Eni Trading&Shipping aggregates different trading and maritime activities from within the Eni group as part of an ongoing plan to streamline and leverage Eni’s presence in key markets. It will also play a key role in marketing and supplying crude oil to international markets. The business will be developed further over the next few months to include a wider range of activities.

Personnel employed by Eni Trading&Shipping will retain the same contractual terms as they had within Eni’s Refining&Marketing Division.

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