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Italy's ISAB Refinery Set to Suffer from Russian Oil Ban

ENERGY

EU oil sanctions against Russia could paralyse Lukoil’s Italian refinery ISAB according to the president of the Sicily region on Facebook this week.

  • The ban on seaborne imports could severely impact ISAB which is Italy’s biggest refinery by capacity according to Nello Musumeci.
  • The ISAB refinery accounts for around 20% of Italian refining capacity and the power plant at the site provides Sicily with around 20% of its electricity.
  • The refinery purchases around 30-40% of its feedstock from Russia.
  • Since Russia’s invasion of Ukraine, it has had to source nearly all its crude from Lukoil because international banks are no longer providing it with credit.
Energy BulletsPower BulletsCommodities
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