LUKOIL Signed an Agreement on the Sale of the Isab Refinery in Italy
PJSC LUKOIL announces that LITASCO S.A., a 100% subsidiary of the LUKOIL Group, and G.O.I. ENERGY LIMITED (hereinafter – G.O.I. ENERGY) have reached an agreement to sell ISAB S.r.L. (hereinafter – ISAB) G.O.I. ENERGY. The deal is scheduled 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.
ISAB S.r.L. owns a large petrochemical complex in Italy, which includes a refinery, a gasification unit and a power plant.
To ensure the efficient operation of the complex after the acquisition of G.O.I. ENERGY has formed a partnership with TRAFIGURA, one of the world’s largest oil and petroleum products traders, which will ensure the continuous supply of raw materials to the refineries, as well as the shipment of products and the necessary level of working capital. The new owner will ensure the preservation of jobs and safe working conditions at the enterprise.
