Italian energy group Eni plans to return to the oil and gas trading business.

According to the Financial Times on Wednesday, Italian energy giant Eni is considering re-entering the oil and gas trading business. Against the backdrop of heightened geopolitical tensions and energy price volatility, the company hopes to achieve similar excess returns as BP, Shell, and Total Energy in the UK. Eni CEO Claudio Descalzi said, "I stopped trading in 2019, but other major energy companies are still doing it. BP, Shell, Total are all major traders, and they make billions from it."