MOSCOW, May 4. /TASS/. Lukoil has closed the transaction of selling its Italy-based Isab refinery to G.O.I. Energy, the Russian oil producer said on Thursday.

"Litasco S.A., 100% subsidiary of Lukoil, and G.O.I. Energy S.r.l. (hereinafter "G.O.I. Energy") completed sale of Isab S.r.l. (hereinafter "Isab") to G.O.I. Energy after fulfillment of certain conditions precedent including receipt of necessary approvals from the Italian authorities," the company said.

Isab "owns a large petrochemical complex in Italy combining refining, gasification and electricity cogeneration plants," Lukoil added.