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Lukoil negotiates sale of refinery in Italy — company

"The transaction is planned to be closed by the end of March 2023 after accomplishment of conditions precedent, including obtainment of required consents from regulators, including the government of Italy," Lukoil said

MOSCOW, January 9. /TASS/. Lukoil has made a sale and purchase agreement for the ISAB refinery in Italy with G.O.I. Energy acting in partnership with Trafigura, the Russian oil major said on Monday.

"Lukoil informs that Litasco S.A., a wholly-owned subsidiary of Lukoil Group, and G.O.I. Energy Limited reached an agreement on the sale of ISAB S.r.L. to G.O.I. Energy. The transaction is planned to be closed by the end of March 2023 after accomplishment of conditions precedent, including obtainment of required consents from regulators, including the government of Italy," Lukoil said.

ISAB S.r.L. owns a large petrochemical complex in Italy, comprising a refinery, a gasification plant, and a power plant.