The State Oil Company of Azerbaijan (SOCAR) has signed an agreement to acquire one of Italy’s largest fuel retail networks – Italiana Petroli.

The deal includes around 4,500 gas stations across Italy, as well as two oil refineries with a combined capacity of about 10 million tons of crude per year.

Financial details of the transaction have not yet been disclosed. However, the deal is expected to be finalized by the end of the first quarter of 2026.

SOCAR is continuing its strategic expansion into Europe. The acquisition of Italiana Petroli will become one of the company’s largest overseas investments and will allow Azerbaijan to:

- strengthen its position in the European energy market;

- gain access to a powerful retail fuel distribution network;

- enhance its role in ensuring the EU’s energy security.

Experts note that the transaction may also strengthen political and economic ties between Azerbaijan and Italy, which is already one of the main buyers of Azerbaijani gas through the Southern Gas Corridor.

For SOCAR, this step is not only about business but also geopolitics. Amid Europe’s energy transition, the company is consolidating its presence in key markets, diversifying its assets, and reducing dependence on raw commodity fluctuations.

#ITALIA

#AZERBAIJAN

24.09.2025 10:54