Deal reached for sale of Russian-owned refinery in Sicily

ROME (AP) — Russian oil company Lukoil say it has reached an agreement for the sale of a refinery plant in Sicily. Thousands of refinery workers have feared job losses due to the European embargo on Russian oil stemming from the war in Ukraine. The company statement on Monday said that the sale of the ISAB Srl refinery is planned to be completed by the end of March pending various approvals by authorities, particularly the Italian government. The agreement calls for the refinery to be sold to G.O.I. Energy. The refinery employs 3,500 people and indirectly supports the jobs of 6,500 others. The workers at the refinery protested in late 2022 fearing for their future. About 20% of Italy’s oil is refined at the plant. Lukoil said that under the agreement the new owner will retain jobs.