Litasco ready to ensure uninterrupted operation of Lukoil refinery in Sicily
MOSCOW. Dec 2 (Interfax) - Litasco SA, part of the Lukoil group and the owner of the Italian oil refinery ISAB s.r.l., is ready to ensure the uninterrupted operation of the enterprise, given the feedstock stored up for the coming months and future deliveries of oil of non-Russian provenance, according to the refinery's website.
Litasco SA has posted this statement "in view of the upcoming restrictions on supplies of oil from Russia to the countries of the European Union that enter into force on December 5, 2022."
"Since acquiring the refinery in 2008, its owner has been investing into its development on a regular basis. As a result, it currently is a profit-making enterprise, a technologically advanced facility, and a reliable partner for all its clients, suppliers and contractors," according to the statement.
"For 14 years, the refinery has been consistently honoring its obligations toward over 10,000 Italians who depend on its operation, as well as delivering on its commitments to Italian authorities pertaining to taxes, health, safety and environmental protection," Litasco SA said.
"Litasco confirms its readiness to continue meaningful cooperation with the Italian government in order to ensure normal operation of the facility," the company explains.
The ISAB oil refinery complex in southeastern Sicily is the third largest in Europe. The enterprise refines Urals crude, and it will not be permitted to receive Russian feedstock once the EU's embargo on Russian seaborne supplies comes into force on December 5. The complex includes two oil refineries connected by a system of pipelines and integrated into a single technological complex with total capacity of 16 million tonnes per year, as well as a tank farm with a volume of 3.7 million cubic meters and three sea berths.
Media earlier reported that Lukoil was negotiating with the U.S. investment company Crossbridge Energy on the sale of the Italian asset.
Litasco is a trading division of Lukoil.