Alkagesta has agreed to buy Turkish marine fuel distributor Energy Petrol, in a transaction that will mark its entry into vessel ownership, according to Alkagesta Newsroom. Turkey’s competition regulator has approved the acquisition, which includes eight marine fuel vessels. The company did not disclose the financial terms and said Energy Petrol would retain its operational independence.
The transaction takes Alkagesta beyond trading marine fuel and into supplying it directly to end-users. According to the company’s newsroom, the acquisition brings its worldwide oil products storage capacity to about 728,000 cubic metres. The announcement also noted that Bloomberg had covered the deal on 22 October, but provided no financial details beyond confirming that the terms were undisclosed.
Asad Huseynov, Alkagesta’s managing director of investments and asset management, presented the purchase as a foundation for possible further investment in infrastructure-style assets. Those opportunities could involve either investments or structured partnerships, according to the announcement. The company described these as potential future steps rather than setting out commitments to any additional assets or transactions.
Alkagesta already supplies roughly 40% of Turkey’s marine fuel market, which totals 2.5 million tonnes a year, the newsroom said. It also put the company’s share of Malta’s marine fuel market at around 75%. Alongside those operations, Alkagesta plans to expand its marine fuel supply business in Singapore, where its hub reached approximately 250,000 metric tonnes a month during its first full year.
The company placed the Energy Petrol agreement alongside other recent developments in its oil business. It described the first half of 2026 as a record period, during which it obtained access to the NATO Central Europe Pipeline System for Jet A1 deliveries. Alkagesta also said it completed its first crude oil transactions in that period, adding crude trading to the activities outlined in the acquisition announcement.