Traded as BIT: SRS Founded 1962 Founder Angelo Moratti Parent organization Angelo Moratti S.a.p.a. | Industry Energy Headquarters Sarroch, Italy Revenue 11.23 billion EUR (2013) | |
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Native name Saras S.p.A. Raffinerie Sarde Type public Società per azioni Key people Gianmarco Moratti (Chairman)
Massimo Moratti (CEO)
Angelo Gino Moratti (Vice Chairman)
Dario Scaffardi (Vice Chairman & GM) Stock price SRS (BIT) € 1.71 0.00 (+0.24%)22 Mar, 4:32 PM GMT+1 - Disclaimer | ||
Saras S.p.A. Raffinerie Sarde is an Italian energy provider founded in 1962, operating in the area of oil refining and the production of electricity, located in the island of Sardinia.
Contents
History
The company was founded in 1962 by Angelo Moratti and is now run by his heirs. The activities of the company have always concentrated in oil refining, which remains the core business of the group and the main production site of the group is the Sarroch refinery, one of six supersites in Europe, situated in a favourable position for the receipt of crude oil and in proximity of the sales of finished products.
According to independent oil analysts WoodMackenzie, based in Edinburgh, the refinery is the one of only six supersites in Europe, with a capacity of 300,000 barrels per day, representing 15% of refining capacity in Italy. In recent years, initially to enable independence of the Sarroch refinery from terms of energy, the group Saras has entered in the production of electricity and is expanding its production of alternative energy sources, particularly in the field of wind energy, through its subsidiaries Sarlux and Sardeolica, the latter of which is controlled indirectly through the company Eolici Ulassai.
To date, the Saras group meets more than 30% of the energy needs of Sardinia, with production in 2006 of nearly 4.5 million MWh, of which 157,300 MWh is from wind. Sarlux was born as a joint venture with Enron, but was wholly acquired by Saras on June 28, 2006. The company is listed on the Borsa Italiana (Code ISIN: IT0000433307, Code: SRS, Segment: MTA). In January 2007, the Judiciary launched an investigation against persons unknown on the bid for Public Sale and Exchange which led the company to listing on the Stock Exchange, on complaint of individuals who participated in it; investigations are still ongoing, but the company claims not to have received further communication after the search made in the same month of January.
In 2009, the documentary-film by Massimiliano Mazzotta Oil about pollution and low workers security of the refinery was subject to censorship in Italy.
Board of directors
As of 29 February 2016Major shareholders
As of 26 April 2016- Gian Marco Moratti (25.011%)
- Massimo Moratti (25.011%)
- Rosneft (12.000%)
- others (37.978%)