Azerbaijan’s state oil company SOCAR is interested in purchasing the ISAB refinery in Italy, which is owned by Russia’s LUKOIL PJSC, Russian media quoted LUKOIL President Vagit Alekperov as saying on November 13.
Alekperov said that along with SOCAR, national companies of Iran and Algeria are also interested in purchasing the ISAB refinery.
He noted that LUKOIL has received many proposals and today the company is considering all options.
“Today the refinery is in very good condition. All installations operate, even new facilities have been introduced after modernization,” said LUKOIL head. “We are negotiating with interested parties, especially with those who could give us the opportunity to integrate into new projects.”
Earlier, Alekperov said that big refiners of the United States, international investment funds and the national company of one of the Persian Gulf states are interested in buying the ISAB oil refining complex.
Currently, SOCAR is the sole producer of petroleum products in Azerbaijan. The company owns the Heydar Aliyev Baku Oil Refinery and is already also completing the construction of Star Refinery in Turkey’s Izmir.
Follow us on Twitter @AzerNewsAz