ESSO GIVES SONATRACH REFINERY IN AUGUSTA
Go ahead from the shareholders’ meeting of Esso Italiana to an agreement with the Algerian state oil company Sonatrach for the sale of the Augusta refinery and fuel depots of the same city of Syracuse, of Palermo and Naples and of the related pipelines.
“The decision is the result of a thorough and careful evaluation – says in a statement Gianni Murano, president and CEO of Esso Italiana -. Our commitment in Italy, where we have been operating for over 125 years, is still valid. Esso Italiana and the companies of the Group will continue to serve the market and its customers “.
Esso Italiana and the companies of the ExxonMobil Group will also sign long-term commercial and technological contracts with Sonatrach for the supply of petroleum products, operational and development activities and the use of fuel depots in Augusta, Palermo and Naples.
“The agreement – the note of Esso Italiana explains – has no impact on Esso-branded service stations, customers, fuel and lubricating and wholesalers, or on other ExxonMobil Group operations in Italy”.
“Sonatrach is extremely proud to make its first international investment in the refining sector in Italy, in particular in Augusta – said Abdelmoumen Ould Kaddour, Chairman and CEO of Sonatrach – We are committed to maintaining employment levels, management continuity, operational excellence and high standards of health, safety and the environment. Our goal is a long-term presence, with a view to safety and commitment to constructive dialogue with the workforce, authorities and communities “.
Esso Italiana will “collaborate with Sonatrach to ensure careful management of the transition, with particular reference to personnel, security, relations with local communities and environmen protection – the company says -. During the transition, EssoItaliana will continue to ensure constant attention to the safety and efficiency of operations, and ensure compliance with the commitments undertaken with the authorities”.
The completion of the transfer of the business unit is subject to a number of conditions and legal restrictions, including the completion of the information and consultation process with the trade unions and the approval of the Antitrust Authority. The sale is expected by the end of 2018.
The employment contract of approximately 660 employees of Esso Italiana will be transferred to the purchaser.