Italian refiner seeks boost from supply and trading unit

Saras gains from rebound in refining margins and flexible Sardinia refinery

Saras refinery at Sarroch
Saras’s core asset: its 300,000bpd refinery at Sarroch on the Mediterranean island of Sardinia

This year has seen a reversal of fortune for the Italian refiner Saras. Like many European refiners, it went through a difficult patch in recent years, but in the first quarter of 2015, Saras earned a net profit of €74.2 million ($81.9 million), after a €261.8 million ($291.9 million) loss in 2014.

Saras's rebound was largely due to a surge in refining margins – the difference between the price refiners pay for crude oil and the price they get for the gasoline, diesel and other refined products