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European Commission approves SOCAR’s acquisition of Italiana Petroli shares

19 February 2026 16:17 (UTC +04:00)

The European Commission has approved SOCAR’s acquisition of 99.82% of the shares of Italiana Petroli (IP), one of Italy’s leading energy companies, from API Holding, APA-Economics reports, citing the European Commission.

The transaction primarily concerns the supply of crude oil and refined petroleum products.

“The notified transaction does not raise any competition concerns, as the companies’ market positions will remain limited following the proposed deal. The operation was reviewed under the simplified merger review procedure,” the statement said.

In September last year, within the framework of the 1st Azerbaijan International Investment Forum, SOCAR signed an agreement to acquire 99.82% of the shares of Italiana Petroli (IP), one of Italy’s leading energy companies, from API Holding.

Italiana Petroli is one of Italy’s largest integrated downstream platforms. The company owns thousands of fuel stations across the country, two oil refineries with an annual processing capacity of approximately 10 million tons, and is engaged in the sale of specialty products such as bitumen, aviation fuel, and lubricants. It also operates a nationwide logistics system.

Recall that Italiana Petroli has been active in the mobility and downstream (distribution and sales) sector since 1933. With 1,600 employees, a network of 4,500 IP-branded fuel stations, an annual refining capacity of around 10 million tons across two refineries, and a logistics system covering the entire country, the company is the leading private player in the market.