George Economou seeks to replace Trafigura as partner in Italy’s biggest refinery

Greek shipping tycoon George Economou is reported to be looking for a new supply partner for Italy’s biggest oil refinery.

The 320,000 barrel-per-day ISAB plant in Priolo, Sicily, was sold in 2023 to Economou-controlled Cypriot private equity company GOI Energy by Russia’s Lukoil following EU sanctions on Russian oil exports, documents seen by the Financial Times show.

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Six people familiar with the matter told the FT that there have been clashes over the terms of a 10-year oil supply and marketing deal with Trafigura.