11:26 - 5.11.2026

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November 5, Fineko/abc.az. State-owned company is expanding its overseas operations beyond mining to include refining and logistics assets in its portfolio.

In May 2026, SOCAR completed the acquisition of a controlling stake in Italiana Petroli in the amount of 99.82% from Italian company API Holding.

As a result, the state-owned company acquired ownership of two oil refineries in Italy, large storage and logistics facilities, as well as a wide retail network of more than 4,600 gas stations throughout the country.