Eni and Mercuria agreed to form a 50:50 joint venture for global energy commodity trading. The independent entity will be headquartered in Geneva.
The partnership combines Mercuria’s trading expertise with Eni’s energy assets. The venture will trade crude oil, biofuels, natural gas, and LNG.
This move marks Eni’s return to the trading market to enhance profitability and asset management. The strategy mirrors the successful trading arms of competitors like Shell, BP, and TotalEnergies.