SOCAR completes acquisition of Italiana Petroli

Azerbaijan’s State Oil Company SOCAR has completed the acquisition of a 99.82% stake in Italy’s Italiana Petroli, IP, from API Holding after obtaining all necessary regulatory approvals, the company said.

Italiana Petroli, which has a history spanning more than 90 years, operates an integrated industrial and logistics system that includes two oil refineries, storage facilities and an extensive retail network across Italy.

SOCAR is a major supplier of crude oil to Italy via the Baku-Tbilisi-Ceyhan oil pipeline and also contributes to the diversification of natural gas supplies to the country through the Southern Gas Corridor.

The agreement to purchase a 99.82% stake in Italiana Petroli from API Holding was signed on September 23, 2025.