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, wholly separate from Lukoil's own licensing track.
Last refreshed: 31 July 2026 · Appears in 2 active topics
GOI bought ISAB in 2023; why is it already selling the refinery on?
Timeline for GOI Energy
Pursued its separate sale of ISAB to Ludoil Capital
European Oil Markets: ISAB is on the wrong sanctions clockMentioned in: FAQ 1224 sets Lukoil sale conditions
European Oil MarketsRaised £12.7m from CIBC Innovation Banking
UK Startups and Innovation: Modo Energy's £12.7m came from a bankGL 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. The refinery is the dominant fuel-supply asset for the island, making any change of ownership subject to close regulatory scrutiny in Rome.
GOI's route to closing its sale to Ludoil runs through two gates, neither of them American: Rome's Golden Power foreign-investment review, and a Milan court seizure order attached to GOI's own ISAB share capital over a financial debt dispute unrelated to Lukoil's ownership history. Washington's Lukoil-focused sanctions licensing track has never reached GOI or its refinery, which is why US sanctions policy is not what stands between GOI and a completed sale.
GOI's own sale bypasses the licence track
GOI bought ISAB from Litasco in May 2023, and OFAC's 24 July guidance amendment made explicit what that purchase already meant: the General Licence series renewing Lukoil International GmbH's negotiation window, most recently as GL 131H, has never named GOI, ISAB or Priolo Gargallo. GOI's Onward sale to Ludoil sits entirely outside that perimeter .
What does bind GOI is closer to home: a September 2024 Milan court seizure order over a roughly EUR150m debt claim tied to its ISAB share capital, plus Rome's Golden Power review and the OFAC transaction licence Ludoil itself needs to close. Coverage that folds GOI's sale timeline into Lukoil's monthly rollover cycle has been measuring the wrong clock .
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?
