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Eni, Rosneft Sign Deal to Develop Trading, Logistics Opportunities

02/23/2013 | 12:13pm US/Eastern

ROME--Italy's Eni SpA (E) and Russia's Rosneft (>> Rosneft' NK OAO) said Saturday they have signed an agreement in Rome to jointly develop trading and logistics opportunities, a move that should secure the Italian company's access to the world's largest oil producer's output and help its trading arm bolster its position as one of the leading players in the European market.

The agreement was signed by Igor Sechin, chairman of Rosneft's management board, and Marco Alvera, chief executive of Eni Trading and Shipping, or ETS, which is Eni's commodities trading arm and one of the largest buyers of crude oil from the Urals region, on behalf of its parent company and others.

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