SOCAR has acquired a 99.82% stake in Italiana Petroli, enhancing Azerbaijan's role in Europe's energy market. The deal received regulatory approval and is seen as a strategic move to diversify energy supplies in the EU. SOCAR President Rovshan Najaf emphasized the importance of this acquisition for energy ties between Azerbaijan and Italy, aiming for sustainable growth and operational stability. Analysts view the acquisition as a reinforcement of Azerbaijan's energy security role in Europe, while Italy sees it as a vote of confidence in its energy sector.