The State Oil Company of the Azerbaijan Republic (SOCAR) is considering the acquisition of shares in Italiana Petroli from API Holding as part of broader efforts to deepen energy and investment cooperation with Italy.

The potential deal was discussed during a meeting between SOCAR President Rovshan Najaf and Giulio Tremonti, a member of the Italian Chamber of Deputies and Chairman of the Foreign Affairs Committee, The Caspian Post reports via SOCAR.

According to SOCAR, the talks focused on energy security, strategic investments and the growing partnership between Azerbaijan and Italy, which remains one of Baku’s most important economic partners in Europe.

Both sides highlighted the strong development of bilateral cooperation in the energy sector and noted the expansion of long-term collaboration into new areas.

Particular attention was given to SOCAR’s possible purchase of a stake in Italiana Petroli from API Holding. Participants emphasized that the transaction could further strengthen economic ties and create new opportunities for cooperation between the two countries.