Official: SOCAR investment in Italiana Petroli strengthens Italy’s energy hub

Azerbaijan’s State Oil Company SOCAR’s investment in Italiana Petroli (IP) will reinforce Italy’s position as a key industrial and energy hub, Italy’s Minister of Economic Development Adolfo Urso has said.

Urso made the remarks in a post on X following a meeting with Azerbaijan’s Deputy Minister of Economy Anar Akhundov and a SOCAR delegation led by its president Rovshan Najaf, held after the final approval of the investment deal, Caliber.Az reports. 

🇮🇹🇦🇿 Oggi al @mimit_gov ho incontrato Anar Akhundov, viceministro azero dell'Economia e una delegazione di @SOCARofficial , guidata da @RovshanNajaf, dopo l’autorizzazione definitiva all’investimento in Italiana Petroli (IP). Un investimento che rafforza il posizionamento… pic.twitter.com/7dSfzBQmwk

— Adolfo Urso (@adolfo_urso) May 27, 2026

"These investments strengthen Italy's position as an industrial and energy platform," Urso added.

On May 8, 2026, SOCAR announced it had completed the acquisition of a 99.82% stake in Italiana Petroli from API Holding, making the Italian company part of SOCAR’s structure.

By Sabina Mammadli