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Russia’s second-largest oil producer Lukoil (LKOH.MM) said on Monday it has reached an agreement to sell its ISAB oil refinery in Sicily to G.O.I. ENERGY, which has formed a partnership with international trader Trafigura.
The transaction is planned to be completed by the end of March 2023 upon fulfilment of certain conditions precedent including receipt of necessary approvals of the authorities, particularly the Italian government, Lukoil said.
It also said that Trafigura has secured uninterrupted feedstock supplies to the refinery and provides for production offtake as well as necessary working capital level.
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