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.
"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
