Eni Forms Trading Venture With Mercuria to Boost Commodity Profits

Eni is forming an energy commodity joint venture with global trader Mercuria as the Italian energy major eyes higher profits to rival the most active traders among the European energy giants. Eni on Wednesday said it had signed an agreement with Geneva-based Mercuria, one of the world’s largest independent trading groups, to create a joint venture to trade energy commodities across global energy markets. The joint venture will be equally owned by Eni and Mercuria, and will operate on an independent and unconsolidated basis through a holding…