Italian refinery gets over $60M investment

Lukoil said it plans to invest more than $60 million over the next three years in its 320,000 barrel-per-day ISAB refinery in Augusta, Italy, on the island of Sicily.

Vadim Vorobyov, Lukoil’s First Deputy CEO, told reporters at a news conference that the investments

He said ISAB will move to produce high-quality diesel of Euro V grade after the modernization.

Vorobyov also said that Lukoil had no plans to sell ISAB for now.

Reuters has reported in 2017 that Lukoil was looking to sell the ISAB refinery as part of a review of its overseas operations. (Reporting by Maxim Nazarov; writing by Vladimir Soldatkin. Editing by Jane Merriman)

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