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Who Owns The Oil Companies Operating In Georgia – Owners And Assets

Natia Taktakishvili
22.10.21 12:30
Georgia buys more than USD 500 million worth of oil and oil products every year. A significant portion of the fuel is intended for 1.2 million vehicles that move through the country; as well as for the tens of thousands of transit trucks and cars that cross Georgian borders every month.

There are only a few major players in the fuel sector that owns a wide chain across the country. Every major player in the oil import market has made its financial statements public.

According to these documents, the information about the assets and owners of the companies is as follows:

SOCAR Georgia Petroleum

● Revenue in 2020 – GEL 600.9 million; Decline of GEL 67.3 million compared to 2019;
● Net loss in 2020 - GEL 145.5 million;
● Company assets in 2020 - GEL 291.3 million.
100%-share of the group is owned by SOCAR ENERGY GEORGIA. The company has 115 petrol stations in the country.

● Revenue in 2020 - GEL 131.9 million;
● Net Loss in 2020 - GEL 2.15 million;
● Company assets in 2020 – GEL 44.7 million.

According to the financial report of "Gulf" or "San Petroleum Georgia", the list of its owners is as follows:

As of December 31, 2019 and 2018, the final owners of the group are JSC "Rosneft" and Davit Iakobashvili, with 49% and 38% shares, correspondingly. The company is represented by 149 stations located in Georgia.

Rompetrol Georgia
● Revenue in 2020 – USD 131.9 million;
● Net loss in 2020 – USD 2.15 million; which was GEL 7 million during the reporting period;
● Company assets in 2020 – USD 44.7 million, which was GEL 146 million during the reporting period.


100% of the company is owned by KMG International N.V., registered in the Netherlands and a member of the Kazakh KazMunayGaz group. Its final owner is the Kazakh state investment company Samruk-Kazyna. Rompetrol chain includes 81 petrol stations in the country.

● Revenue in 2020 – GEL 353.3 million;
● Net profit in 2020 – GEL 3 million;
● Company assets in 2020 - GEL 225.4 million.

As of 2020 Audited Report, Levan Pkhakadze - 35.77%; Soso Pkhakadze - 30.98%; Giorgi Ramishvili -15.50%; Nugzar Abramishvili - 8.25%; Aleks Topuria - 7.12% and David Borger - 2.38%. The company holds 120 petrol stations in the country.

● Revenue in 2020 - GEL 239.3 million;
● Net loss in 2020 – GEL1.2 million;
● Company assets in 2020 - GEL 74.7 million.

Lukoil Georgia is owned by LUKOIL Europe Holdings B.V., registered in the Netherlands. And is a member of the Russian Lukoil Group.

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