Alkagesta Gains First Vessels with Energy Petrol Acquisition
The Malta-based trader moves from selling marine fuel to delivering it, adding eight bunker vessels and 728,000 cubic metres of storage through a Turkish acquisition cleared by antitrust regulators.
Alkagesta has agreed to acquire Energy Petrol, a Turkish marine fuel distribution company, in a deal that gives the Malta-based trader its first vessels. Bloomberg reported the agreement on 22 October. Turkey's antitrust authority has approved the transaction, and financial terms were not disclosed.
The acquisition includes a fleet of eight marine fuel vessels and takes Alkagesta's total oil products storage capacity to roughly 728,000 cubic metres. Energy Petrol will continue to operate independently under its new owner.
The deal shifts the company's model from trading bunker fuel to distributing it directly to end-users. Alkagesta already supplies about 40% of Turkey's 2.5 million-tonne-a-year marine fuel market and roughly 75% of Malta's, so owning delivery tonnage tightens its position across the eastern Mediterranean bunker chain.
It also follows a wider pattern among commodity traders, which have been buying the businesses they once simply supplied in order to capture margin and secure outlets for their volumes.
Asad Huseynov, Alkagesta's managing director of investments and asset management, said the deal lays the ground for potential further investments or structured partnerships in other infrastructure-style assets.
The acquisition caps a busy year for the group. It reported a record first half of 2026, secured access to the NATO Central Europe Pipeline System for Jet A1 deliveries, completed its first crude oil transactions, and is expanding marine fuel supply operations in Singapore, where its hub reached about 250,000 metric tonnes a month in its first full year.
