Lukoil, Isab’s CEO: «The sale of the Sicilian refinery within the year»
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A temporary administrator by the state for the refinery Isab di Priolo would be neither fair nor equitable and could hinder a possible sale by Lukoil. The negotiation for the sale of the plant is already at an advanced stage and could be completed by the end of the year. The synthesis is the reasoning ofEugene Maniakhine, general manager of the plant (and CEO of the company) which is located in the industrial area of Syracuse in the municipality of Priolo. A plant, it will be recalled, controlled by the Swiss Litasco in turn controlled by the Russian giant Lukoil. Maniakhine chooses to speak to Il Sole 24Ore on the day on which the embargo decided by the European Union against Russian oil was triggered which, it was said, was the only source of supply for the Sicilian refinery in the last six months due to the choice by the banks, for what is called over compliance, not to grant letters of credit to the company to allow it to buy oil on the international market. A situation that has raised fears of the worst with possible drastic consequences not only for the three thousand workers of Isab (a thousand direct) but for the whole industrial area which employs, according to estimates, around 10 thousand people.
On the evening of Thursday 1 December, the council of ministers approved the decree which establishes, among other things, the temporary administration of the refinery by the state. On Friday, December 2, Litasco issued a statement in which he claims to be in a position to go ahead without problems.
St the it is said that without Russian oil the refinery would have closed, now it turns out that there is non-Russian oil instead. What’s the situation?
Today Isab is an efficient and successful company but this has not been an easy result to achieve. It’s no secret that the refinery has been loss making for years and needed significant investment. Lukoil bought the refinery in 2008 and we have made total investments since then of around six billion for the purchase, for development projects and for maintaining processing capacity. Six billion invested in the Italian economy. We have improved the structure, the product quality of the refinery and increased the industrial safety and improved the environmental impact of the company. I would like to underline that we have developed the plant continuously, taking into account all the trends and challenges of the sector, including the climate agenda.
According to some data, in the first half of 2022 the turnover of the refinery was just under six billion: it seems to me that this year the accounts are going very well.
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