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Ulviyya Poladova

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Italian Prime Minister Giorgia Meloni has welcomed Q8’s decision to join efforts to stabilize fuel prices in the country and highlighted SOCAR’s contribution to the initiative.

In her statement, the Italian prime minister thanked Kuwait and the group operating Q8 fuel stations in Italy for responding to the government’s call for energy companies to help lower fuel prices.

"Following the decision by Eni and SOCAR, another important sign of attention to Italian families came today from Q8," Meloni said.

It should be noted that recently, Azerbaijan’s State Oil Company (SOCAR) and Italian energy company Eni S.p.A. exchanged a protocol confirming the completion of a deal under which SOCAR acquired a 10% stake in the development project of the Baleine oil and gas field in Côte d’Ivoire.

According to SOCAR, following the completion of the transaction, the project’s participating interests are distributed as follows: Eni - 37.25%, Vitol - 30%, Côte d’Ivoire’s national oil and gas company Petroci - 22.75%, and SOCAR - 10%.

"The acquisition of the stake will provide SOCAR with access to Africa’s oil and gas sector and forms part of the company’s long-term strategy to expand its global upstream activities in exploration and production," the company said.