European Commission clears SOCAR’s takeover of Italy’s Italiana Petroli
Akbar Novruz
Read moreThe European Commission has approved the acquisition by the State Oil Company of Azerbaijan (SOCAR) of 99.82 percent of shares in Italy’s Italiana Petroli (IP) from API Holding, AzerNEWS reports, citing the Commission.
According to the Commission, the transaction primarily concerns the supply of crude oil and petroleum products. Regulators concluded that the deal does not raise competition concerns, given the limited market impact, and therefore assessed it under the simplified merger procedure.
Italiana Petroli is among Italy’s largest integrated downstream platforms, operating thousands of fuel stations nationwide, two oil refineries with a combined processing capacity of around 10 million tons per year, and a countrywide logistics network.
The company also markets specialty products including bitumen, aviation fuel, and lubricants.
The agreement between SOCAR and API Holding to purchase the stake in Italiana Petroli was signed on September 23, 2025.
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