11:41 - 15.09.2026

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September 15, Fineko/abc.az. The State Oil Company of Azerbaijan (SOCAR) continues to strengthen its international downstream portfolio. The company finalized the cash acquisition of Italy’s Italiana Petroli S.p.A. (IP), gaining control over two refineries, 4,500 service stations, and a robust logistics network generating €616 million ($689.92 million) in adjusted EBITDA.

Concurrently, SOCAR is preparing a $7 billion (11.9 billion AZN) investment initiative in Turkiye to establish new polyolefin production facilities, with a Final Investment Decision targeted for late 2026. Industry experts view these strategic moves as key drivers for enhancing SOCAR’s geographic diversification and long-term revenue resilience.