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The origins of the ISAB refinery complex in Priolo, Sicily, trace back to two separate industrial developments. In the mid-1950s, the North Plants were constructed as a petrochemical site by the Catanese Industrial Company (SINC.A.T.), which began operations in the 1960s with a refining capacity exceeding 17 million tonnes per year.

In 1972, construction began on the South Plants, initially established as a stand-alone refinery under the name ISAB (Industry of Sicilian Asphalt and Bitumen). These plants commenced production in 1975, processing up to 11 million tonnes of crude oil annually-a figure that was later increased to 12 million tonnes in 1997.

Over the subsequent decades, both the North and South Plants underwent several changes in ownership and management. The North Plants, after passing through various hands including ENI/Agip, were acquired by the ERG Group in 2002. That year marked a significant turning point: ERG unified the North and South Plants, physically connecting them with a network of pipelines and integrating their operations. This merger created one of the largest refining “Super-sites” in Europe, known as ERG Raffinerie Mediterranee – Raffineria ISAB.

In 2000, prior to the full integration, the site expanded with the commissioning of an IGCC (Integrated Gasification Combined Cycle) power plant. Built by ERG and Edison Mission Energy, this facility generated electricity from the gasification of refinery residues, further enhancing the site's industrial integration.

The next major change came in the late 2000s. In 2008, Russian oil company Lukoil, through its subsidiary Litasco, began acquiring stakes in the ISAB refinery. By 2014, Lukoil had become the sole owner of the entire ISAB complex, consolidating both the North and South Plants as a single, highly integrated refining operation. Under Lukoil, the refinery maintained its strategic importance for Italy, with ongoing investments in modernization and environmental performance.

The most recent chapter began in 2023, when ISAB S.r.l. was acquired by G.O.I. Energy, a Cyprus-based group, with the support of commodity trader Trafigura. This acquisition, finalized after approval from Italian authorities, was part of a broader effort to secure the refinery’s future following EU sanctions on Russian crude. Today, ISAB S.r.l. continues to operate the Priolo refinery as one of Europe’s largest and most advanced refining hubs, playing a vital role in Italy’s energy infrastructure and regional economy.