Lukoil intends to invest over 60 million dollars in the ISAB refinery in Sicily over the next three years, according to Reuters.
Vadim Vorobyov, Deputy General Manager of Lukoil, explained that the investment targets two hydrotreatment projects to improve fuel quality.
ISAB refinery processes 320,000 barrels of crude oil per day (bpd), according to Agerpres.
Following the investment, ISAB will produce high-quality Euro V diesel, Vorobyov said.
He explained that Lukoil does not intend to sell the refinery for the time being.