LUKOIL completes sale of ISAB refinery in Sicily – Kommersant
[ad_1]
LUKOIL completed the sale of the ISAB oil refinery in Italy with the Cypriot group GOI Energy. This is reported in press release Russian company.
ISAB is the largest oil refinery in Italy, it used to buy 30-40% of its raw materials in Russia. LUKOIL acquired the plant in 2008, the company owns 49% of the enterprise. Before the COVID-19 pandemic, ISAB produced 10.6 million tons per year, which is 13% of the total volume of refined oil in Italy.
LUKOIL signed a deal with GOI Energy to sell the ISAB refinery for €1.5 billion in January, but received permission from the Council of Ministers of Italy only on 12 April. The closing of the transaction was planned on March 31, but Italian officials suspended this process. Financial Times wrotethat Italian officials were renegotiating the agreement after the US government privately expressed concern that a Russian company was selling its asset to a little-known fund in Cyprus.
Read more about the deal – in the publication “Kommersant” “LUKOIL found help in Cyprus”.
[ad_2]
Source link
