Italian integrated firm Eni is expanding its London trading division while other oil trading firms migrate to Geneva. Chief executive Paolo Scaroni says Eni's 3mn b/d global crude trading operations will grow to 400 people from 350 by the end of next year or by 2012. Eni's London operations will grow to 150 personnel from 85 by the end of next year, he says. Eni has 70 crude traders and 15 natural gas traders in London and plans to expand each team, along with carbon, power and specialised derivatives traders, Eni Trading and Shipping managing director Marco Alvcra tells Argus.
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