Lukoil agreed to sell refineries in Italy
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“The deal is planned to be closed by the end of March 2023 after the fulfillment of suspensive conditions, including obtaining the necessary approvals from regulators, including the Italian government,” the message says.
The press service also noted that GOI Energy has formed a partnership with the trader Trafigura “to ensure the efficient operation of the complex after the acquisition.” The trader will be able to ensure the continuous supply of raw materials to the refinery, as well as the shipment of products and the necessary level of working capital.
The ISAB refinery with a processing capacity of 14 million tons per year is located in the east of Sicily near the town of Priolo. The enterprise processes oil of various grades, as well as straight-run fuel oil. The refinery produces 22% of all automotive fuel produced in Italy. According to the materials of Lukoil, raw materials are supplied to the plant from the countries of the Black Sea region, North and West Africa, and the Persian Gulf. At the same time, in the spring, according to the newspaper La Stampa, the plant was 100% supplied with Russian oil.
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