EMEA News
EC Approves Acquisition of Italy's Termica Milazzo by ENI and Kuwait Petroleum JV
The European Commission (EC) Thursday announced that it has approved the acquisition of Italy's Termica Milazzo S.r.l. (Termica Milazzo) by Raffineria di Milazzo S.p.A (Raffineria di Milazzo), a joint venture between Eni S.p.A. (Eni) and bunker and lubricant supplier Kuwait Petroleum Italia S.p.A (Kuwait Petroleum Italia).
"The Commission concluded that the proposed acquisition would raise no competition concerns, because of the very limited overlaps between the companies' activities generated by the transaction," explained EC.
Termica Milazzo is said to currently operate a thermal power unit of 145 megawatts located in Sicily, while Raffineria di Milazzo operates a refinery located on the same site and, amongst other things, supplier bunker fuel, EC noted.
As Ship & Bunker reported earlier in July, Eni has been supplying the U.S. Navy, and other vessels, with a 5.5 percent biofuel blend marine diesel - a blend that T. A. Kiefer, retired U.S. Navy Captain and energy consultant, says "should not even be called biofuel; it is petroleum fuel with an expensive additive."
