Russian Lukoil To Sell Strategic Italian Refinery To Trafigura-Backed Company

In its first major overseas asset sale following Russia’s invasion of Ukraine and subsequent Western sanctions, Lukoil, Russia’s second-largest oil company, has agreed to sell its Italian ISAB refinery to a Cypriot company backed by Geneva-based commodities trader Trafigura.  The deal will see Lukoil’s 100% subsidiary, Litasco S.A., sell the ISAB refinery to Cyprus-based G.O.I. Energy Limited, a private equity firm backed by Trafigura, according to a statement on Lukoil’s website. The deal value was not disclosed. …