Commodities and Futures News

Lukoil to sell Sicilian plant to American Crossbridge

2022.12.08 14:58

[ad_1]


Lukoil to sell Sicilian plant to American Crossbridge

Budrigannews.com – Three people with knowledge of the situation said on Thursday that the Russian group Lukoil and the U.S. private equity firm Crossbridge are close to a deal for the sale of the Russian group’s refinery in Sicily, Italy.

Two of the sources stated that the agreement between Crossbridge and Lukoil could be worth just under 1.5 billion euros ($1.58 billion), but they cautioned that the final terms of the transaction could still change. The agreement is supported by Swiss commodity trader Vitol.

In Sicily, the Lukoil-owned facility refines a fifth of Italy’s crude and directly employs approximately 1,000 people in a low-income region.

More Launch of liquefied gas terminal postponed in Germany-Spiegel

After a European Union embargo went into effect on Monday, the refinery is now unable to take its primary feedstock. In recent months, the refinery has primarily relied on Russian crude.

Rome announced last week a plan to transfer control of the plant to trustees in order to safeguard domestic refinery capacity and jobs from the embargo.

One of the sources stated that the possibility of the refinery coming under trusteeship has accelerated negotiations between Crossbridge and Lukoil.

Due to higher prices for diesel and gasoline, the refinery’s revenues are anticipated to more than triple this year, surpassing 10 billion euros ($10.55 billion), according to a fourth source.

Any consent to sell the plant will be dependent upon government examination under the purported brilliant power guideline, which gives Rome the likelihood to hinder the exchange would it be advisable for it hurt positions or vital creation in the country.

Vitol and Crossbridge declined to comment. Lukoil did not immediately respond to requests for comment. A request for clarification was not answered by the Italian ministry of industry.

Lukoil to sell Sicilian plant to American Crossbridge

Related Articles

Leave a Reply

Back to top button
bitcoin
Bitcoin (BTC) $ 104,570.02 1.53%
ethereum
Ethereum (ETH) $ 2,585.35 10.39%
tether
Tether (USDT) $ 1.00 0.00%
xrp
XRP (XRP) $ 2.46 5.06%
bnb
BNB (BNB) $ 662.32 0.68%
solana
Solana (SOL) $ 177.16 2.56%
usd-coin
USDC (USDC) $ 1.00 0.01%
dogecoin
Dogecoin (DOGE) $ 0.24801 20.84%
cardano
Cardano (ADA) $ 0.839629 7.99%
tron
TRON (TRX) $ 0.26558 2.10%
staked-ether
Lido Staked Ether (STETH) $ 2,586.14 10.72%
sui
Sui (SUI) $ 4.08 3.63%
wrapped-bitcoin
Wrapped Bitcoin (WBTC) $ 104,304.95 1.38%
chainlink
Chainlink (LINK) $ 17.34 8.42%
avalanche-2
Avalanche (AVAX) $ 25.91 11.47%
wrapped-steth
Wrapped stETH (WSTETH) $ 3,097.60 10.11%
shiba-inu
Shiba Inu (SHIB) $ 0.000017 12.23%
stellar
Stellar (XLM) $ 0.319325 8.09%
hedera-hashgraph
Hedera (HBAR) $ 0.219077 8.34%
hyperliquid
Hyperliquid (HYPE) $ 26.08 5.40%
the-open-network
Toncoin (TON) $ 3.49 6.52%
bitcoin-cash
Bitcoin Cash (BCH) $ 430.15 4.84%
usds
USDS (USDS) $ 1.00 0.00%
polkadot
Polkadot (DOT) $ 5.28 10.40%
litecoin
Litecoin (LTC) $ 104.98 4.53%
leo-token
LEO Token (LEO) $ 8.26 5.49%
weth
WETH (WETH) $ 2,585.78 10.40%
wrapped-eeth
Wrapped eETH (WEETH) $ 2,756.29 10.31%
monero
Monero (XMR) $ 325.48 2.87%
pepe
Pepe (PEPE) $ 0.000014 12.39%
bitget-token
Bitget Token (BGB) $ 4.97 11.54%
pi-network
Pi Network (PI) $ 0.785902 5.50%
binance-bridged-usdt-bnb-smart-chain
Binance Bridged USDT (BNB Smart Chain) (BSC-USD) $ 0.998063 0.27%
coinbase-wrapped-btc
Coinbase Wrapped BTC (CBBTC) $ 104,515.00 1.54%
ethena-usde
Ethena USDe (USDE) $ 1.00 0.05%
uniswap
Uniswap (UNI) $ 7.43 16.93%
whitebit
WhiteBIT Coin (WBT) $ 30.21 0.25%
bittensor
Bittensor (TAO) $ 464.58 7.99%
near
NEAR Protocol (NEAR) $ 3.34 15.25%
aptos
Aptos (APT) $ 6.06 9.08%
dai
Dai (DAI) $ 1.00 0.01%
ondo-finance
Ondo (ONDO) $ 1.10 9.82%
aave
Aave (AAVE) $ 229.03 8.44%
okb
OKB (OKB) $ 55.65 1.25%
ethereum-classic
Ethereum Classic (ETC) $ 20.72 7.88%
internet-computer
Internet Computer (ICP) $ 5.84 7.26%
susds
sUSDS (SUSDS) $ 1.05 0.02%
crypto-com-chain
Cronos (CRO) $ 0.104789 3.34%
official-trump
Official Trump (TRUMP) $ 14.83 4.35%
blackrock-usd-institutional-digital-liquidity-fund
BlackRock USD Institutional Digital Liquidity Fund (BUIDL) $ 1.00 0.00%