SOCAR completes acquisition of Italy’s IP Group
Published on: May 15, 2026
Deal brings Italiana Petroli into SOCAR’s portfolio, strengthening its European footprint and integrated energy value chain in a key market.
SOCAR has completed the acquisition of 99.82% of Italiana Petroli (IP) shares from API Holding in Rome, following all required regulatory approvals. The deal brings one of Italy’s longstanding energy operators into SOCAR’s international portfolio, reinforcing its position in European energy markets and expanding its integrated operations across refining, logistics, and retail.
The IP brand will be maintained across its operational structure and workforce expertise, ensuring continuity for customers and partners. SOCAR, headquartered in Azerbaijan, operates globally across the extraction, processing, and distribution of energy resources and is the largest integrated energy enterprise in the South Caucasus.
The acquisition supports its long-term objective of building a more resilient and integrated energy portfolio while adapting to evolving market and sustainability requirements. Already supplying crude oil to Italy via the Baku–Tbilisi–Ceyhan pipeline, the company also contributes to gas diversification through the Southern Gas Corridor.
SOCAR President Rovshan Najaf said: “The completion of this acquisition marks an important milestone in the longstanding energy collaboration between Azerbaijan and Italy.” He added that integrating IP’s network will reinforce the company’s European position “while preserving the strengths that have defined IP’s success.”
Founded more than 90 years ago, IP plays a central role in Italy’s mobility and energy system, with two refineries, storage infrastructure, and a nationwide service station network. Its integration into SOCAR aligns with the Azerbaijani company’s strategy to grow its presence in Europe, where Italy represents a core market.
