Italy’s largest refinery, which is owned by Russia’s Lukoil, is not destined for nationalisation, according to Industry Minister Adolfo Urso.
The Italian government paved the way for putting strategic oil and gas infrastructure under temporary administration on Thursday, in a move which set the stage for a temporary state takeover of the ISAB Lukoil refinery in Priolo, Sicily, which has been struggling to secure funding ahead of a European Union ban on Russian oil due to kick in on December 5.
Asked whether the plant was headed for nationalisation, Mr Urso told the newspaper Corriere della Sera on Saturday: “Absolutely not.”
The government is taking on temporary administration of the refinery with the option of entrusting management to publicly-controlled companies operating in the same sector “to guarantee the continuity of production and therefore the energy supply of the country, also safeguarding employment,” Mr Urso said.
In the meantime, Mr Urso added that the ownership of the refinery can continue talks for ceding it to others.
Italian energy giant Eni could become involved, “and this will give a guarantee of production continuity,” newswire Ansa cited Mr Urso as telling reporters in Sicily on Saturday. Mr Urso also said he had received a US guarantee on Saturday morning that banks which will finance bridge operations will not be subjected to US sanctions.
The urgent law approved by Prime Minister Giorgia Meloni’s cabinet on Thursday gives the government the power to put power stations, pipelines and other energy plants under temporary administration for up to two years, according to a statement. The law is aimed to “defend the national interest on strategic production sectors,” according to a statement.
Italian banks had been wary that extending credit to ISAB would incur secondary sanctions in the US that would restrict access to dollars, Bloomberg reported in November. The refinery is one of Europe’s biggest oil-processing complexes, with a combined capacity of well over 300,000 barrels a day, according to data compiled by Bloomberg.
The specs
Engine: 4.0-litre flat-six
Torque: 450Nm at 6,100rpm
Transmission: 7-speed PDK auto or 6-speed manual
Fuel economy, combined: 13.8L/100km
On sale: Available to order now
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Killing of Qassem Suleimani
Specs
Engine: Electric motor generating 54.2kWh (Cooper SE and Aceman SE), 64.6kW (Countryman All4 SE)
Power: 218hp (Cooper and Aceman), 313hp (Countryman)
Torque: 330Nm (Cooper and Aceman), 494Nm (Countryman)
On sale: Now
Price: From Dh158,000 (Cooper), Dh168,000 (Aceman), Dh190,000 (Countryman)
F1 The Movie
Starring: Brad Pitt, Damson Idris, Kerry Condon, Javier Bardem
Director: Joseph Kosinski
Rating: 4/5
GROUPS AND FIXTURES
Group A
UAE, Italy, Japan, Spain
Group B
Egypt, Iran, Mexico, Russia
Tuesday
4.15pm: Italy v Japan
5.30pm: Spain v UAE
6.45pm: Egypt v Russia
8pm: Iran v Mexico
Citadel: Honey Bunny first episode
Directors: Raj & DK
Stars: Varun Dhawan, Samantha Ruth Prabhu, Kashvi Majmundar, Kay Kay Menon
Rating: 4/5
MATCH INFO
Crawley Town 3 (Tsaroulla 50', Nadesan 53', Tunnicliffe 70')
Leeds United 0
Our family matters legal consultant
Name: Hassan Mohsen Elhais
Position: legal consultant with Al Rowaad Advocates and Legal Consultants.
David Haye record
Total fights: 32
Wins: 28
Wins by KO: 26
Losses: 4
The specs: McLaren 600LT
Price, base: Dh914,000
Engine: 3.8-litre twin-turbo V8
Transmission: Seven-speed automatic
Power: 600hp @ 7,500rpm
Torque: 620Nm @ 5,500rpm
Fuel economy 12.2.L / 100km
Gothia Cup 2025
4,872 matches
1,942 teams
116 pitches
76 nations
26 UAE teams
15 Lebanese teams
2 Kuwaiti teams
Global Fungi Facts
• Scientists estimate there could be as many as 3 million fungal species globally
• Only about 160,000 have been officially described leaving around 90% undiscovered
• Fungi account for roughly 90% of Earth's unknown biodiversity
• Forest fungi help tackle climate change, absorbing up to 36% of global fossil fuel emissions annually and storing around 5 billion tonnes of carbon in the planet's topsoil
UAE currency: the story behind the money in your pockets
How has net migration to UK changed?
The figure was broadly flat immediately before the Covid-19 pandemic, standing at 216,000 in the year to June 2018 and 224,000 in the year to June 2019.
It then dropped to an estimated 111,000 in the year to June 2020 when restrictions introduced during the pandemic limited travel and movement.
The total rose to 254,000 in the year to June 2021, followed by steep jumps to 634,000 in the year to June 2022 and 906,000 in the year to June 2023.
The latest available figure of 728,000 for the 12 months to June 2024 suggests levels are starting to decrease.
THE BIO
Favourite book: ‘Purpose Driven Life’ by Rick Warren
Favourite travel destination: Switzerland
Hobbies: Travelling and following motivational speeches and speakers
Favourite place in UAE: Dubai Museum
Scoreline
Syria 1-1 Australia
Syria Al Somah 85'
Australia Kruse 40'
Total eligible population
About 57.5 million people
51.1 million received a jab
6.4 million have not
Where are the unvaccinated?
England 11%
Scotland 9%
Wales 10%
Northern Ireland 14%
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