Alkagesta agrees Energy Petrol acquisition in first move into vessel ownership

Alkagesta has agreed to buy Turkish marine fuel distributor Energy Petrol, taking its first step into vessel ownership and extending its business from fuel trading into direct distribution to end-users, according to Alkagesta Newsroom. Turkey’s competition authority has approved the transaction, while financial terms have not been disclosed.

The acquisition includes eight marine fuel vessels and takes Alkagesta’s global oil products storage capacity to about 728,000 cubic metres, the company’s newsroom said. Energy Petrol will retain its independence in day-to-day operations following the deal. The announcement also noted that Bloomberg had covered the transaction on 22 October, without specifying the year of that coverage.

For Alkagesta, the purchase adds a distribution business to its existing position in marine fuel trading. The company presented the transaction as a step towards supplying customers directly, rather than limiting its role to trading the fuel. Vessel ownership is a new activity for the group, according to the announcement.

Asad Huseynov, Alkagesta’s managing director of investments and asset management, said the acquisition could provide a foundation for further investment or structured partnerships involving other infrastructure-style assets. Those possibilities were described as potential developments, rather than commitments to additional transactions or identified projects.

Alkagesta Newsroom put the company’s current share of Turkey’s marine fuel market at approximately 40%, against national demand of 2.5 million tonnes a year. It also reported a share of roughly 75% in Malta. The company plans to expand marine fuel supply operations in Singapore, where it said its hub reached about 250,000 metric tonnes a month during its first full year.

The announcement linked the acquisition to what Alkagesta described as a record first half of 2026. During that period, the company said it obtained access to the NATO Central Europe Pipeline System for Jet A1 deliveries and completed its first crude oil transactions.