The largest private oil producer in the Russian Federation, Lukoil, is selling the ISAB S.r.L. oil refinery in Sicily to the G.O.I. ENERGY LIMITED, the deal is planned to be closed by the end of March this year.

This was reported by the press service of "Lukoil".

It is noted that LITASCO S.A., which is a "daughter" of the "Lukoil" group, reached an agreement on the sale of the largest refinery in Italy, "ISAB". The deal is expected to close by the end of March 2023, subject to the fulfillment of conditions precedent, which includes obtaining the necessary approvals from regulators, including the Italian government.

ISAB owns a large petrochemical complex in Italy, which includes a refinery, a gasification plant, and a power plant.

It is added that the buyer company G.O.I. ENERGY has formed a partnership with TRAFIGURA, one of the largest international traders of oil and petroleum products, which will ensure the uninterrupted supply of raw materials to the refinery and the shipment of products and the necessary level of working capital. The new owner will ensure the enterprise's preservation of jobs and safe working conditions.