Ludoil to complete acquisition of ISAB

04 Jun Ludoil to complete acquisition of ISAB

London, (Oilandgaspress) Italy’s government will give its green light to a planned acquisition of Sicilian oil refiner ISAB by Ludoil, the country’s energy minister told Reuters on Thursday.

Ludoil Capital Srl, last month signed a Sale and Purchase Agreement (“SPA”) with GOI Energy Srl for the acquisition of the latter’s stake in ISAB Srl (“ISAB”), the owner of the Priolo Gargallo refinery and the associated industrial, logistics, and energy infrastructure.. The acquisition marks the beginning of a new phase for ISAB, which will transform into an energy company with an integrated portfolio ranging from crude oil processing to advanced bioenergy, establishing itself as a strategic hub for energy flows between Europe, Africa, the Americas, and the Middle East. Management will be based on a model based on the creation of shared value, so that ISAB can strengthen its role in safeguarding supplies and continue to generate prosperity for the world.

In the medium term, the industrial focus will be on advanced bioprocessing. The plan calls for the progressive introduction of new supply chains dedicated to the production of Hydrotreated Vegetable Oil (HVO), Sustainable Aviation Fuel (SAF), Bio-Oil, second-generation bioethanol, and BioETBE: a comprehensive set of renewable energy sources in line with European decarbonization guidelines.

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