SOCAR completes purchase of Italy's IP

SOCAR has completed the acquisition of a 99.82% stake in Italiana Petroli (IP) from API Holding after receiving all required regulatory approvals.

Founded more than 90 years ago, Italiana Petroli is one of Italy’s leading energy and mobility companies, operating an integrated industrial and logistics network that includes two refineries, storage facilities and a nationwide fuel retail system.

The acquisition officially brings IP into the SOCAR group, significantly strengthening the Azerbaijani energy company’s presence in the European market.

The deal forms part of SOCAR’s long-term strategy to expand its integrated energy value chain and reinforce its footprint across Europe, with Italy remaining a key market in the company’s regional portfolio.

Full story SOCAR completes acquisition of Italy’s Italiana Petroli | AnewZ