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SOCAR exploring Lukoil's oil refinery complex in Italy

15 December 2017 , 12:10Neftegaz.RU1020

According to the report of the Azeri APA on December 14, 2017, Azerbaijan´s SOCAR has confirmed its intention to purchase ISAB oil refinery complex of Lukoil in Italy.


SOCAR Vice-president for investments and marketing Elshad Nasirov said that the company shows interest to any such project: «If the matter is concretely about this project, we must explore it comprehensively.  It’s still early to speak about concrete proposal».  


Earlier, Lukoil president Vagit Alekperov said that Azerbaijani, Iranian and Algerian oil companies show interest to purchase ISAB refinery in Italy.

According to him, Lukoil received a number of proposals: «We’re now considering these proposals».


Lukoil has been developing its business in Italy for over 10 years, following the 2008 acquisition of a 49% stake in the ISAB refinery in Priolo in the southeast of Sicily.


The ISAB refinery is currently fully owned by the Lukoil Group and is Europe's 3rd largest refinery in terms of throughput.


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