All Eni’s activities in Trading & Shipping
Eni operates in trading and shipping of crude and oil products, gas, power CO2 and their respective derivatives through the company ETS, an independent company but 100% owned by Eni. With a staff of 337 employees spread out in offices in London, Brussels and Singapore, and the subsidiary ETS inc in Houston and the service given by the operational Midstream BU in Milan, ES manages to integrate effectively operations in the various sectors; from the trading of oil products to its transport (Shipping), from the control service regarding compliance with the safety norms on the fleets rented (Vetting) to the commercialisation of environmental certificates. The activity is carried out with entrepreneurial spirit, continually searching for new, more effective solutions to combine with traditional methods, placing particular attention on norms regarding anticorruption, antitrust and HSE.

Crude oil and oil products

ETS is the company in the Eni group responsible for the sale of Eni’s crude oil and condensates throughout the world. It makes use of the know-how developed by Eni in the Exploration & Production and Refining & Marketing sectors, as well as the privileged relationships that Eni has with national oil companies, producers and other oil majors, commercial and refining companies. ETS analyses carefully the trends that guide the global energy commodity markets, identifying quickly commercial opportunities and proving to be an efficient and reliable partner. Trading oil involves the buying and selling of crude oils, products, semi-finished products and the management of commodity risk by means of financial tools for ETS’s activities, Eni’s business areas and other companies in the group. The purchase of crude oils, products and semi-finished products is done on the international market from Eni production and is sold both to Eni’s refining and distribution systems in Italy and abroad as well as third parties.

Gas, Power and CO2

The gas market has changed drastically in recent years. Greater market volatility and liquidity, along with the increasing correlation between energy commodities has demanded ever more sophisticated trading ability and well-timed decision-making in order to create value and manage the market risk.
Recently, there has been an increase in trading of gas, power and CO2 including:
  • Trading operations on European liquid markets.
  • Gas sales to commercial and industrial clients in the United Kingdom.
  • Trading of environmental certificated to seize the opportunities offered by the regulatory framework and Eni’s portfolio. Eni’s industrial activity portfolio (electricity power stations, petro-chemical plants, refineries, E&P installations) which need to be managed according to the European Union’s Emission Trading Scheme, will enable us to offer a wide range of solutions (EUA/CER/ERU, green and white certificates).
The gas desks, electric energy and environmental certification carried out by ETS can exploit Eni’s unique position as the top gas operator in Europe and as a major integrated player in the oil, gas and energy sector. Eni’s leading position enables ETS to have thorough knowledge of the physical markets and gas transport. ETS creates value for its clients by
  • trading gas in the main hubs
  • defining, developing and carrying out advanced pricing strategies
  • developing proprietary trading strategies.
These skills ensure that ETS maximises the value of its own asset portfolio and develops unique commercial offers. It is active in all the main European hubs, on the borders (flange), in the upstream locations and in transfer points and it distributes gas to commercial and industrial clients in the United Kingdom.


The shipping activity involves the management of transport services of crude oil and oil and chemical products on national and international routes, for other lines of business in Eni and companies in the group and also for its own independent activities. In particular, the international transport of crude oil and refined products is carried out between production or refinery locations and the centres where they are used both by Eni and by third parties. However, national transport involves mainly the transport of semi-finished and finished products, both refined and petro-chemical, between the various production and distribution centres of Eni’s operational units. During 2015 about 22.8 million tonnes of crude oil and 20.0 million tonnes of semi-finished and finished products were transported both for its own independent use and on behalf of Eni and the other companies in the group. To move such amounts of crude oil, ships hired on a time charter system were used for 8.2 million tonnes and 11.0 million tonnes of finished products. As of 31 December 2015, there are 35 time charter ships available to Eni Trading & Shipping SpA, 15 of which are for international activity and 20 for national use.

Safety and respect for the environment are key values for Eni. It is precisely for this reason that the team that manages shipping activities regularly checks that the ships hired do not have more than 15 years’ service and conform to the best practice standards in the sector.


ETS believes it is crucial that the hired ships and their respective technicians respect all of the environmental codes and international safety guidelines. To ensure this happens ETS has set up its own vetting team to guarantee the selection activity and authorisation for the use of ships by inspections that check compliance with the high standards in the sector. This procedure was started in the 1990s and since then a sophisticated IT system has been developed ensuring that the rigorous standards requested by the industry are respected and optimising the whole process. ETS is part of the OCIMF – SIRE system and its activities comply with their principles.

Evaluation of a fleet (selection and authorisation)

  • assessments are carried out where possible on the basis of physical inspections supervised by part of a team from ETS and are valid for a maximum of 12 months
  • in the absence of physical inspections carried out on the ships by ETS inspectors, the assessments and selections are carried out on the basis of information acquired b the SIRE system and by other data sources at ETS’s disposal
  • each time the process requires the downloading of a report from the SIRE system, an inspection report on the ship must be available in the OCIMF database and this must happen within six months of the inspection
  • in the assessment, the following areas are examined carefully: compliance to the Minimum Selection Criteria (MSC) of ETS, the non-conformities to SIRE, PSC controls and nationality, the age of the ship, the results of the TMSA, the history of accidents and previous reports.

Ship inspections

  • inspections by ETS are carried out solely on the basis of the SIRE system and by inspectors hired directly, who rely on a worldwide network of about a hundred credentialed SIRE inspectors from the OCIMF for inspections of petrol tankers, gas and chemical carriers.
  • inspections are planned on the basis of formal requests by the ship operators and confirmed when ETS is interested in carrying out such inspections
  • inspections confirmed are carried out in compliance with the current OCIMF INSPECTION QUESTIONNAIRE FOR SHIPS and aim to establish the conformity to the minimum selection criteria, among other things, of Eni Trading & Shipping S.p.A. The report is downloaded onto the OCIMF - SIRE database and sent to the ship’s operator for comment.

Management revision

  • ETS promotes the programme TMSA (Tanker Management Self Assessment) and supports the ship operators that actively take part in the system
  • the management reviews are carried out by using a formal internal process, in which the TMSA is part of the assessment to examine the quality of the operators whose ships are currently under contract with ETS or who are used more frequently for on the spot commerce.
  • for other operators, if the management review is not available, an assessment is made on the basis of the previous records and by the TMS.

Accident report assessments

  • ETS encourages operators of petrol tankers to send reports of any significant events happening in their fleets. 
  • a formal internal procedure follows aimed at reviewing the reports, supporting the selection and authorisation activity to reduce delays to a minimum. In the assessment procedure regarding the ship’s operator, the main evaluation concentrates on the preciseness of the reports and the promptness of action.

Business Principles of ETS

We are committed to achieving excellence in all our activities. Lack of profit due to our inefficiency is not acceptable. We work constantly to achieve excellence and enhance our approach. We dedicate time to carrying out suitable assessments also when deadlines are near. We lay great store on creativity and imagination and we take on trading activities with entrepreneurial spirit. We constantly put ourselves to the test in our search for new, more effective solutions even if we know that the “traditional” methods are often the best ones. We see opportunity in challenge and are aware that to achieve excellent results we must employ very talented people. Career development is based solely on merit and we invest in our people by encouraging mobility and changes in position. We believe that the success of a team is greater and longer-lasting than that of an individual. We encourage individual contributions but even more important for us is teamwork, since it produces better results and is more sustainable over time. We motivate and involve our people and we believe that diversity is a source of wealth.

Integrity, transparency and social responsibility are fundamental for our work. We always abide by the law, our ethical code and Eni’s regulatory system. We are committed to the best practices in applying Eni’s regulatory system, paying special attention to anticorruption, antitrust and HSE regulations. We safeguard and improve our reputation every day with our behaviour. Our behaviour is our trademark and our reputation derives from the perception that others have of us in Eni and we strive to improve that through exemplary behaviour.

People and values

Eni Trading & Shipping (ETS) is made up of a team of 331 people spread over 4 locations: London, Brussels, Singapore and Rome, to which can be added the subsidiary ETS Inc in Houston and the Midstream operational BU in Milan. We are present throughout the world; we are in all the European, but also American, African and Asian, markets.
ETS is made up of highly motivated, highly qualified people who:
  • have great knowledge of financial markets and energy commodities
  • exploit their vast experience gleaned previously in Eni
  • have access to a wide range of professional cultural backgrounds
  • work passionately, resolutely and aspire to excellence
  • guarantee reliability, speed and flexibility in reaching entrusted objectives
Teamwork and a client-oriented approach are the characteristics that ETS people have in common. This is all summarised in our business principles that guide the whole ETS team in their daily activities.

Read also

Regulatory norms in Trading & Shipping

Eni respects all the regulatory norms for trading and shipping i.e. REACH, REMIT, EMIR regulations and Model 231.
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