• 5 minutes 'No - Deal Brexit' vs 'Operation Fear' Globalist Pushback ... Impact to World Economies and Oil
  • 8 minutes China has *Already* Lost the Trade War. Meantime, the U.S. Might Sanction China’s Largest Oil Company
  • 12 minutes Will Uncle Sam Step Up and Cut Production
  • 35 mins China has invested btw $30 - $40 Billon in Canadian Oil Sands. Trump should put 10% tariffs on all Chinese oil exported into or thru U.S. in which Chinese companies have invested .
  • 15 hours A legitimate Request: France Wants Progress In Ukraine Before Russia Returns To G7
  • 8 hours Danish Royal Palace ‘Surprised’ By Trump Canceling Trip
  • 7 hours US to Drown the World in Oil
  • 3 hours Used Thin Film Solar Panels at 15 Cents per Watt
  • 4 hours The Rarely Revealed Part of the Nuclear Problem
  • 10 hours Iran Is Winning Big In The Middle East
  • 8 hours With Global Warming Greenland is Prime Real Estate
  • 17 hours IS ANOTHER MIDDLE EAST WAR REQUIRED TO BOLSTER THE OIL PRICE
  • 8 hours Tit For Tat: China Strikes Back In Trade Dispute With U.S. With New Tariffs
  • 12 hours Strait Of Hormuz As a Breakpoint: Germany Not Taking Part In U.S. Naval Mission
  • 5 hours Trump cancels Denmark visit amid spat over sale of Greenland
  • 15 hours LA Solar Power/Storage Contract
  • 12 hours Philadelphia Energy Solutions seeks to permanently shut oil refinery - sources
Electric Vehicles Will Win Big In A Recession

Electric Vehicles Will Win Big In A Recession

As the global automobile industry…

Eni’s Oil Tanker Fiasco

Eni

After refusing last month to take an oil cargo over suspicions that its origin could have been at least partially Iranian, Italy’s oil major Eni has now filed a fraud complaint against its ex head of oil trading for having misled all parties in the spot cargo deal.

Eni fired the head of oil trading Alessandro Des Dorides at the end of May over a different, unrelated deal with small Italian oil trading company, Napag, in 2018, the Italian major said, as carried by Reuters.

In the fraud complaint filed with the prosecutor’s office in Milan, Eni accuses Des Dorides of misleading the parties to the deal and of having concealed the role of Napag in it, according to the filing seen by Reuters.

Eni told Reuters that the reason for Des Dorides’ termination was a petrochemical deal with Napag from last year that is unrelated to last month’s curious case when Eni refused to receive a cargo intended for the Milazzo refinery in Sicily because there were red flags that the tanker loaded with 1 million barrels of crude oil may have carried, at least partially, oil originating from Iran.

Eni, like all major western oil firms, stopped trading Iranian oil when the U.S. slapped sanctions on Iran’s oil exports in early November, in order to not run afoul of a U.S. Administration determined to drive Iranian crude exports to zero and to sanction entities dealing with Iran.

Eni rejected last month the cargo on the White Moon oil tanker, saying that the specifications of the crude were different from those of Iraq’s grade Basra Light, which it had contracted to buy.

According to two sources at Eni who spoke to Reuters, the cargo created panic at Eni that the whole shipment may have all the hallmarks of Iran ghosting its oil, and that the tanker could be loaded, at least partially, with Iranian crude.

After the tanker fiasco, Eni has moved to revamp the top management in its oil trading division, Reuters reports.

By Tsvetana Paraskova for Oilprice.com

More Top Reads From Oilprice.com:



Join the discussion | Back to homepage

Leave a comment

Leave a comment

Oilprice - The No. 1 Source for Oil & Energy News
Download on the App Store Get it on Google Play