GOI Energy
ISAB's outgoing owner, selling the Sicilian refinery to Ludoil amid a Milan debt claim.
GOI Energy owns Sicily's 320,000 b/d ISAB refinery and agreed on 18 May 2026 to sell it on to Ludoil Energy, a deal still awaiting an OFAC transaction licence and Italy's Golden Power final order.
Last refreshed: 20 July 2026 · Appears in 1 active topic
GOI bought ISAB in 2023; why is it already selling the refinery on?
Timeline for GOI Energy
GL 131G's perimeter never included ISAB
European Oil MarketsPriolo refinery stranded as clock runs
European Oil MarketsBackground
GOI Energy owns Italy's 320,000 b/d ISAB Priolo Gargallo refinery, Sicily's largest fuel producer, having bought it from Litasco, Lukoil's Swiss trading Arm, in May 2023 with Italian government approval granted the previous month.
GOI is now selling the refinery on to Ludoil Capital and Ludoil Energy under a two-phase agreement signed 18 May 2026, a deal that still needs an OFAC transaction licence and a final Golden Power order from Rome before it can close.
GOI's own route to closing the Ludoil sale runs through two gates, neither of them American: Rome's Golden Power review, and a September 2024 Milan court seizure order attached to GOI's own ISAB share capital over a roughly EUR150m debt claim, a financial dispute rather than any Lukoil ownership stake. Washington's Lukoil-focused licensing track, renewed again in late June, has simply never reached GOI or its refinery, so US sanctions policy is not what stands between GOI and a completed sale.
Who owns ISAB refinery in 2026?
What is the Milan court case against GOI Energy?
What does OFAC's licence say about ISAB refinery?
When did GOI Energy buy the ISAB refinery?
Is GOI Energy's sale of ISAB connected to the separate Carlyle-Lukoil deal?
