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More Buyers Interested In Italy’s ISAB Refinery

REFINING

A group of investors led by a Qatari businessman has expressed interest in acquiring the oil refinery owned by Lukoil, while talks with Crossbridge, Vitol and Trafigura continue, Italian newspaper La Repubblica said.

  • The group of investors led by businessman Ghanim Bin Saad Al-Saad presented a proposal to the Italian government.
  • Crossbridge, with support from traders Vitol and Trafigura, is also looking to acquire the refinery.
  • Lukoil’s hopes to sell the plant by the end of the year.
  • The plant has been put under trusteeship by the Italian government, after it was under threat due to the European embargo on Russian seaborne oil that came into effect on 5 Dec.
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