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Rosneft considers supplying oil to Sardinia’s refinery

September 17, 2012, 20:26 UTC+3

The parties agreed to form a working group that will review joint commercial opportunities

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MOSCOW, September 17 (Itar-Tass) —— The state-owned oil company Rosneft is considering plans to supply oil to Sardinia’s refinery.

Rosneft President Igor Sechin met with Chairman of the Board of Saras S.p.A. Gian Marco Moratti and Saras S.p.A. CEO Massimo Moratti in Rome to discuss possible cooperation between the two companies including but not limited to crude supply to the Sarroch refinery in Sardinia.

The parties agreed to form a working group that will review joint commercial opportunities.

Saras is a leading operator in the refining sector in Europe. Its main assets/activities include one of the biggest high complexity refinery in the Mediterranean Sea with the capacity of 300,000 barrels per day (about 15 percent of Italy's total refining capacity); more than 80 percent of production is of medium and light distillates with low environmental impact (mainly diesel and gasoline); integration with petrochemical and electricity production.

The company owns the largest liquid fuel gasification plant in the world that converts heavy refining residues into clean gas, with limited environmental impact, which is subsequently used in power generation. Its installed power capacity is 575 MW. The plant has three independent trains for gasification and production and generates more than 4 terawatt-hours of electricity.

The company is engaged in marketing activities in Italy and Spain, including wholesale sales of oil products with high added value and low environmental impact, such as low sulphur gasoil and gasoline. It has two storage facilities for distribution of products at Arcola (Italy) and Cartagena (Spain).

Its retail business is located mainly in the South of Spain through 124 retail stations. The biodiesel production plant in Cartagena, Spain, has the capacity of 200,000 tonnes per year.

The company also generates electricity using renewable sources, such as a wind farm in Ulassai (Sardinia), with the capacity of 96 MW.

Saras also maintains provides industrial engineering services for the oil sector.

Rosneft is the leader of Russia’s petroleum industry, and ranks among the world’s top publicly traded oil and gas companies. The company is primarily engaged in exploration and production of hydrocarbons, production of petroleum products and petrochemicals, and marketing of outputs.

Rosneft has been included in the Russian government’s List of Strategic Enterprises and Organisations. The state owns 75.16 percent in the company (through OJSC ROSNEFTEGAZ), while approximately 15 percent of shares are in free-float.


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