SOCAR gets EU green light for major Italian petrol bid

A major energy deal between an Italian firm and the state oil company of Azerbaijan (SOCAR) has been confirmed by the European Commission.

The EC approved the acquisition of Italiana Petroli S.p.A. (IP) and its subsidiary MIP S.p.A. by Azerbaijan’s SOCAR, citing that the transaction does not raise competition concerns under EU merger rules.

The decision was taken on 19 February under the EU Merger Regulation and cleared through…