Alkagesta has agreed to buy Turkish marine fuel distributor Energy Petrol, taking its first step into vessel ownership and extending its role in supplying fuel directly to customers. In its acquisition announcement, Alkagesta said Turkey’s competition regulator had approved the transaction. The company did not disclose the financial terms of the agreement.
The deal includes eight marine fuel vessels and takes Alkagesta’s total worldwide storage capacity for oil products to approximately 728,000 cubic metres, according to the announcement. Energy Petrol will retain its independence in day-to-day operations. Alkagesta also noted that Bloomberg had reported on the transaction on 22 October.
The purchase broadens Alkagesta’s business model beyond marine fuel trading to include direct distribution to end-users. Asad Huseynov, the company’s managing director of investments and asset management, said the acquisition could provide a basis for further investment or structured partnerships involving other infrastructure-style assets. The announcement did not identify any specific subsequent transactions.
Alkagesta puts its existing share of Turkey’s marine fuel market at approximately 40%, against total annual market demand of 2.5 million tonnes. It also says it supplies around 75% of Malta’s marine fuel market. Beyond those markets, the company plans to expand its marine fuel supply operations in Singapore, where it reported volumes of roughly 250,000 metric tonnes a month during the hub’s first full year.
The company presented the acquisition as following a record first half of 2026. During that period, Alkagesta said it obtained access to the NATO Central Europe Pipeline System for Jet A1 deliveries and completed its first crude oil transactions. Those developments sit alongside the Energy Petrol agreement in its expansion across fuel trading, distribution and logistics.
Read the original announcement on Alkagesta.