Malta | 22 October 2026
Alkagesta has agreed to acquire Energy Petrol, a Turkish marine fuel distribution company, marking the company’s first move into vessel ownership. The deal, covered by Bloomberg on 22 October, has been approved by Turkey’s antitrust watchdog. It includes a fleet of eight marine fuel vessels and brings total global oil products storage capacity to approximately 728,000 cubic metres. Financial terms were not disclosed. Energy Petrol will continue to operate independently.
The acquisition expands the company’s model from trading marine fuel to distributing it directly to end-users. Asad Huseynov, Managing Director of Investments and Asset Management at Alkagesta, noted the deal lays the ground for potential future investments or structured partnerships in other infrastructure-style assets.
Alkagesta currently supplies approximately 40% of Turkey’s 2.5 million tonne per year marine fuel market and approximately 75% of Malta’s, with plans to expand marine fuel supply operations in Singapore — where the hub reached approximately 250,000 metric tonnes per month in its first full year. The acquisition builds on a record first half of 2026, during which Alkagesta secured access to the NATO Central Europe Pipeline System for Jet A1 deliveries and completed its first crude oil transactions.
Read more: Bloomberg