Alkagesta has agreed to buy Energy Petrol, a Turkish marine fuel distributor, in a transaction that will take the company into vessel ownership for the first time. In an announcement on its website, Alkagesta said Turkey’s competition authority had approved the acquisition. The company did not disclose the financial terms and said Energy Petrol would retain its operational independence.
The transaction includes eight vessels used for marine fuel distribution. Alkagesta said the acquisition would bring its total global storage capacity for oil products to about 728,000 cubic metres. Its announcement also noted that Bloomberg had covered the deal on 22 October, but did not provide further financial details of the agreement.
For Alkagesta, the purchase extends its activities beyond trading marine fuel into direct distribution to end-users. Asad Huseynov, the company’s managing director of investments and asset management, presented the agreement as a foundation for possible further investment in infrastructure-type assets. He also identified structured partnerships as a potential route for developing those activities, rather than setting out a specific additional transaction.
Alkagesta said it already supplies roughly 40% of Turkey’s marine fuel market, which it put at 2.5 million tonnes a year, as well as approximately 75% of Malta’s market. The company also outlined plans to expand its marine fuel supply business in Singapore. According to the announcement, its Singapore hub reached a volume of around 250,000 metric tonnes a month during its first full year of operation.
The company linked the acquisition to what it described as a record first half of 2026. During that period, Alkagesta said it obtained access to the NATO Central Europe Pipeline System for deliveries of Jet A1 aviation fuel and carried out its first crude oil transactions. The Energy Petrol agreement adds marine distribution vessels to that broader expansion of its oil products activities.
Read the original announcement on Alkagesta.