14 Dec 2017 18:31

SOCAR confirms interest in Lukoil's Isab refinery in Sicily, but no decision made

BAKU. Dec 14 (Interfax) - The State Oil Company of the Azerbaijani Republic (SOCAR) has got its sights on Lukoil's Isab refinery in Sicily, the SOCAR Vice-President for investment and marketing Elshad Nasirov told journalists on Thursday.

Lukoil head Vagit Alekperov had previously said that the company is considering various options for Isab refinery's future, but no decision has yet been made. He said that there has been interest in buying the refinery from SOCAR as well as companies from Iran and Algeria. Lukoil is considering both selling the refinery and attracting a partner.

"We are interested in a lot of refineries, including this one. We have discussed it, are taking a close look. No specific decisions on it have been taken. Don't expect anything sensational," Nasirov said.

ISAB, located in southeastern Sicily, is the third biggest refinery in Europe by capacity. Lukoil became its sole owner in 2013. The ISAB complex includes two refineries connected by a pipeline system and integrated into a single engineering complex with total capacity of 16 million tonnes a year, a tank farm with a capacity of 3.7 million cubic meters and three marine terminals.