Alessio Lilli has been confirmed at the helm of SIOT Spa for the next three years. The Shareholders’ Meeting also renewed the appointment of the Board of Statutory Auditors, composed of the Chairman Giovanni Berton and the Auditors Michela Raffaelle and Daniela Ruggiero. For Alessio Lilli – who is the General Manager of TAL Group – this is his third term of office at the top of the company that runs the Italian section of the Transalpine Pipeline.

On 30 June, the shareholders of SIOT also approved the financial statements of the company, which show a profit of 1.6 million euros, despite the negative economic situation for the oil sector and the Covid period.

“For our sector,” commented Alessio Lilli, “2020 was a very complex year where various dynamics, unrelated to each other, contributed to a severe contraction in the market and in the volumes requested by the countries we supply, where, also as a result of lockdowns, crude oil consumption dropped by 10%. Since last April, however, we have seen a substantial recovery in our markets, with an increase in crude oil demand, which is now closer to pre-Covid levels.

Despite the reduction in profit margins, Lilli emphasises, SIOT has continued to invest in infrastructure and has protected employment: “We have left behind a difficult year for the country, for people and for many productive sectors. The TAL Group, its shareholders, managers and employees, and SIOT in particular, are particularly proud of having continued to invest in the infrastructure – over 34 million Euros in current and capital expenditure – in this period of reduced traffic, guaranteeing work for over 500 people in linked industries, and never having to reduce working hours or lay off its employees”.

The approved 2020 budget shows a value of production of €77.8 million (€85.4 in 2019) and a net profit of €1.6 million compared to €2 million in 2019. Among the trends to be considered in 2020 is the use of higher tonnage tankers: 416 ships docked at the Marine Terminal, for a total of 37.6 million tonnes of crude oil unloaded in the year reviewed.