The new entity will operate as an independent, unconsolidated firm, utilizing international trading hubs to manage logistics and commercial rights. Stefano Pujatti, Eni’s Director of Global Trading, noted the venture is designed to enhance profitability and risk management through shared expertise.
Eni CEO Claudio Descalzi previously signaled this move, acknowledging that while trading is not part of the company's core DNA, the firm must adapt to remain competitive. Rivals like BP, Shell, and TotalEnergies have generated massive returns during recent periods of extreme market volatility, with some firms adding billions in trading profits in a single quarter. The agreement remains subject to customary regulatory approvals before operations commence.
Comments (0)
No comments yet. Be the first!