SOCAR announced today its decision to cap the prices of fuels sold on the Italian market by its subsidiary italiana petroli (IP).
SOCAR, which completed the acquisition of italiana petroli from API Holding last May 8, has decided to strengthen its commitment to Italy, with the aim of setting a cap on the retail prices of petrol and diesel across its fuel distribution network. Price levels will be set according to different needs to ensure the survival of the supply chain, which consists of thousands of operators.
In this way, the Azerbaijani state-owned company is heeding the Italian Government’s call to address the needs of families and businesses, which for over six months now have been facing extraordinarily high fuel prices due to the context of severe geopolitical instability affecting global supply chains.
The cap will be applied gradually, starting with the IP-branded network, providing significant support to the partners and retailers with whom the company has built a relationship of complete trust, transparency, and collaboration over the years – a relationship that sets it apart within the national energy landscape. At the same time, the company will explore the most effective ways to extend this mechanism to Esso-branded stations and other operators in the supply chain that source fuel from IP and distribute it under their own brands throughout the country.
The decision confirms SOCAR's closeness to Italy at a time when the Azerbaijani company formalizes a strategic partnership with the Italian Football Federation (FIGC), becoming the Global Energy Partner of the men’s and women’s national football teams from January 1, 2027, to December 31, 2030, with the option to extend for an additional two years.
SOCAR
SOCAR is a global integrated energy company headquartered in Azerbaijan. The company operates across the energy value chain, from oil and gas exploration and production to refining, petrochemicals, transportation, trading, and distribution. With a broad international footprint, SOCAR contributes to the energy security of Azerbaijan and its strategic partners while advancing sustainable developments.
italiana petroli
Italiana Petroli has been operating in the fuel and mobility sector since 1933. With approximately 1,600 employees, a network of over 4,500 IP-branded retail locations, a crude oil processing capacity of approximately 10 Mton spread across two refineries, and a nationwide logistics network, it is one of the leading operators in the sector.
