Ludoil Energy’s wholly owned subsidiary, Ludoil Capital, has signed a sale and purchase agreement (SPA) with GOI Energy to acquire its stake in ISAB, the owner of the Priolo Gargallo refinery and related facilities.
The transaction will be completed in two stages, starting with the acquisition of a 51% stake.
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This phase is subject to approval by the Italian Government under the Golden Power regulation for nationally strategic assets, as well as the required antitrust and other regulatory clearances.
Situated in south-eastern Sicily within the Province of Syracuse, the facility spans the municipalities of Priolo Gargallo, Augusta and Melilli.
It is Italy’s largest refining complex, authorised to process 20 million tonnes per annum (mtpa), with a balanced capacity of 15mtpa.
The site is crucial for national energy security and the transaction returns this important asset to Italian ownership.
The acquisition begins a significant transformation for ISAB into an integrated energy company that handles crude oil processing and advanced biofuels.
This positions it as a key hub for energy flows between Europe, Africa, the Americas and the Middle East.
The company will adopt a shared-value model to strengthen its contribution to energy security while delivering benefits to the local community and the country.
In the medium term, the strategy will focus on advanced bio-processing, expanding into producing hydrotreated vegetable oil, sustainable aviation fuel, BioOil, second-generation bioethanol and BioETBE.
Investments will adhere to the European RED III Directive, highlighting the Group’s commitment to sustainability standards.
The site, which already includes a 540MW power and cogeneration plant, will gain an additional 20MW of renewable capacity.
The current workforce will remain, leveraging ISAB’s extensive engineering expertise in Sicily, a historic centre for Italian refining and petrochemicals.
Growth plans include creating additional local jobs and building partnerships with academic and research institutions.
By combining Ludoil’s commercial capabilities with ISAB’s industrial expertise, the companies aim to develop a fully integrated energy value chain, from feedstock sourcing through to distribution.
Ludoil’s portfolio includes storage terminals, logistics infrastructure, a fuel retail network, and a range of renewable energy assets including biomethane and solar power.
