SOCAR Completes the Acquisition of Italiana Petroli
SOCAR has officially completed the acquisition of 99.82% of the shares of Italiana Petroli (IP) from API Holding, following the receipt of all required regulatory approvals. The transaction represents a major milestone in SOCAR’s long-term strategy to expand its integrated energy value chain and strengthen its position in the European market.
With a history of more than 90 years, Italiana Petroli plays a significant role in Italy’s mobility and energy security. The company operates an integrated industrial and logistics system, including two refineries, storage facilities, and an extensive retail network of around 4,600 fuel stations across the country. Through this acquisition, IP becomes part of SOCAR’s international portfolio, significantly strengthening the company’s growth ambitions in Europe.
Italy is not SOCAR’s first market within the European Union, as the company already operates successfully in countries including Switzerland, Austria, and Romania. Beyond the EU, SOCAR is also active in neighboring regional markets such as Türkiye and Ukraine. Notably, 20 years ago, Georgia became the first overseas market where SOCAR expanded its operations, laying the foundation for the company’s international development.
Italy holds particular strategic importance for SOCAR. The company is already a major supplier of crude oil to Italy through the Baku-Tbilisi-Ceyhan pipeline and contributes to the diversification of natural gas supplies through the Southern Gas Corridor. In this context, the acquisition of IP further strengthens the longstanding energy cooperation between Azerbaijan and Italy.
As part of his visit to the Republic of Italy, SOCAR President Rovshan Najaf held meetings with Gilberto Pichetto Fratin, Italy’s Minister for Environment and Energy Security, and Adolfo Urso, Italy’s Minister for Enterprises and Made in Italy. The parties discussed energy security, SOCAR’s activities in Italy, and further opportunities for cooperation between the two countries.
Within the framework of the visit, Rovshan Najaf also attended an official reception organized in Rome by the Embassy of Azerbaijan in Italy on the occasion of 28 May - Independence Day of Azerbaijan. During the event, the official presentation of SOCAR Italia took place, marking a new stage in SOCAR’s activities in the Italian market.
SOCAR is committed to further strengthening IP’s market position through long-term investment, operational excellence, and continued focus on customers, partners, and employees.
