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Italy Pushing to Keep Lukoil's ISAB Refinery Running

REFINING

Italy is working on ways of keeping Lukoil’s ISAB refinery in Sicily running after the EU ban on Russian oil comes into effect December 5 according to Reuters sources.

  • The ISAB plant has been forced to rely solely on Russian oil after creditor banks halted financing and stopped providing guarantees the refinery needs to buy oil from alternative suppliers.
  • The sources said the Italian government is looking for ways to ensure the plant can receive lending facilities.
  • The government fears the plant will run well below capacity if an arrangement is not found. Italy is eager to avoid this because of middle distillate tightness throughout Europe.
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