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Eni Trading & Shipping: activities, products and services

A unique market interface

ETS acts as a single interface between Eni and the international markets for crude oil, gas, power, CO2 and petroleum products derived from oil processing, and also the associated sea shipping markets. It is a global, integrated approach designed to make the most of Eni’s network of contacts and wide asset portfolio. In turn, ETS helps to optimise the management of Eni’s assets, promoting collaboration within the organisation and devising advanced risk-management solutions. ETS enhances Eni’s unique position as a European leader in the gas sector, acting as a single hub for trading and commodity risk management.


  •          Chairman & Chief Executive Officer Activities:   C. Signoretto
  •          Finance & Risk:                                                         F. Metrangolo
  •          Human Resources:                                                   A. Crescenzi
  •          Information & Communication Technology:        E. Fabrizio
  •          Legal Assistance:                                                       T.H.C. Signoretto 
  •          Compliance Trading Monitoring & Support:         S. Germani
  •          Global Trading Gas:                                                  F. Magnani
  •          Global Trading LNG:                                                 A. Della Zoppa
  •          Global Trading Power and Emission:                     F. Giunti

Organigramma attività Oil

  • Chief Executive Officer Activities: G. Ricci

  • Global Trading Oil: S. Ballista

  • Integrated Intiatived and Business Development Oil: M. Risi

  • Global Marine Assurance: L. Rubeis

  • Upstream Marketing: A. Mastropietro

  • Crudes Trading: N. Hill

  • Products Trading: M. Varani

  • Shipping Oil & Trading Services: M. Gastaldello

The members of the Board of Directors are:

  • Cristian SIGNORETTO, Chairman and Chief Executive Officer Gas, LNG and Power Activities
  • Giuseppe RICCI, Chief Executive Officer Oil Activities
  • Donatella Anna RANCO, Director
  • Claudia VIGNATI, Director
  • Fabio CASTIGLIONI, Director
  • Marcello PERRA Director

The members of the Board of Statutory Auditors are:

  • Tiziano ONESTI, Chairman
  • Giulia DE MARTINO, Standing statutory auditor
  • Mauro IANIRO, Standing statutory auditor
  • Augusto MATIZ, Substitute statutory auditor
  • Francesca PARENTE, Substitute statutory auditor

The members of the Supervisory Body pursuant to Legislative Decree 231/2001 are: 

  • Raffaele Giovanni RIZZI (Chairman)
  • Giorgio GINI
  • Laura FERRANDO

ETS in numbers

  • Oversaw the trading of 63.4 million tons of crude oil and 16.4 million tons of refined and semi-finished products*
  • Shipped around 28 million tons of crude oil and around 20 million tons of petroleum products and petrochemicals. Time charter vessels used for the transport of 7 million tons of crude oil and 12 million tons of petroleum products
  • Traded oil and gas derivatives mainly for hedging purposes
  • Optimised Eni's portfolio flexibility through Asset Backed Trading activities, operating on international gas hubs for a total of 17 billion cubic metres (physical volumes)
  • Carried out hedging activities for Eni (Flow) gas portfolio exposures on European (hub) liquid markets for total physical volumes of approximately 54 billion cubic metres
  • Performed proprietary trading operations for 57 billion cubic metres of physical gas
  • Marketed around 2 billion cubic metres of LNG
  • Sold about 1 billion cubic metres of gas to commercial and industrial customers (UK)

*source Financial Statement 2017

Integrated operations on commodity market

ETS is engaged in:

  • the marketing of international production of crude oil and petroleum products;
  • the procurement of international supplies of crude oil, semi-finished and refined products for the Eni Group and the marketing of semi-finished and refined products for the cargo market;
  • the use of portfolio flexibility in Asset Backed Hedging activities;
  • trading operations, on both physical and financial energy commodity markets (crude oil, petroleum products, gas, power and CO2 emissions);
  • the provision of services for the management of commodity price risk to the divisions and companies of the Eni Group
  • the trading of CO2 certificates to meet the needs of Eni Group companies;
  • the management of maritime transport services for crude oil, petroleum and chemical products, both directly and on behalf of other Eni operating units, on both international and domestic markets, and ensuring the quality of the vessels used.

Vetting: vessel assessment and inspections

Fleet assessment (selection and authorisation)

  • Wherever possible, assessments are made on the basis of direct physical inspections conducted by the ETS team. Assessments have a maximum validity of 12 months.
  • In the absence of a physical inspection of a ship by an ETS inspector, assessment and selection activities can be carried out on the basis of information provided by the SIRE (Ship Inspection Report) system and other sources available to ETS.
  • Every time the process requires the downloading of reports from the SIRE system, a ship inspection report must be available on the OCIMF (Oil Companies International Marine Forum) database and no more than six months must have passed since the inspection.
  • During the assessment, careful monitoring is made of the following areas: compliance with ETS’ Minimum Selection Criteria (MSC), non-compliance with SIRE, PSC (Port State Controls) and flag state, a profile of the ship’s age, the results of TMSA (Tanker Management Self Assessment), the accident log and previous reports.

Ship inspections

  • ETS inspections are carried out only on the basis of the SIRE system and by around one hundred SIRE inspectors accredited by the OCIMF for the inspection of oil, gas and petrochemical tankers, supported by two inspection companies under service contracts with ETS.
  • Inspections are scheduled on the basis of formal requests form the ships’ operators and confirmed when ETS has an interest in conducting these inspections.
  • Confirmed inspections are carried out in compliance with the current OCIMF Vessel Inspection Questionnaire (VIQ) with the aim, among other things, of verifying compliance with the minimum selection criteria of Eni Trading & Shipping S.p.A. The final report is uploaded to the OCIMF - SIRE database and sent to the ship’s operator for comment.

Review of the technical management of ships

  • ETS adheres to the TMSA programme and supports ship operators who actively participate in the system.
  • Management reviews are conducted using a formal internal process, in which TMSA compliance is part of the assessment, to examine the quality of the ship operators whose vessels are regularly under contract to ETS or are frequently used for spot trading.
  • If a management review is not available for other operators, an assessment is carried out on the basis of their previous records and the most recent TMSA but updated within the previous twelve months.

Assessment of the accident log

  • ETS encourages operators of tankers to submit reports of significant events that occur in their fleets.
  • This is followed by a formal internal process to review the reports, supporting selection and authorisation activities so as to reduce delays.
  • The precision and timeliness of the report is noted during the procedure to assess ship operators.

Model 231

Legislative Decree 231 of 8 June 2001 states that companies may adopt models of organisation, management and control to prevent crimes connected to relationships with the public administration. In view of this, the Board meeting of Eni Trading & Shipping on 5 February 2008 approved its Model 231 for the first time, subsequently amending it to take into account the main changes in the organisational and legal framework.

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Statement Modern Slavery Act 2017 - ETS

PDF 642.31 KB 02 July 2018 CEST 11:38
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PDF 57.30 KB 11 December 2018 CET 00:00
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Corporate Structure

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ETS General Privacy Policy

PDF 181.27 KB 31 May 2018 CEST 00:00
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Modello 231 - ETS

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