Alkagesta agrees Energy Petrol deal in move into vessel ownership

Alkagesta has agreed to acquire Energy Petrol, a marine-fuel distribution business in Türkiye, as it moves into owning vessels for the first time. The Malta-based company announced the agreement on 22 October 2026. Bloomberg’s publicly available coverage also describes the transaction as an agreed purchase, rather than a completed takeover.

According to the company’s announcement, the acquisition includes eight marine-fuel vessels and would bring its worldwide oil-products storage capacity to approximately 728,000 cubic metres. The purchase price and other financial terms have not been disclosed. The announcement says the deal has received approval from Türkiye’s antitrust authority and that Energy Petrol will retain independent operations.

The business rationale centres on taking a more direct role in delivering marine fuel. Rather than only trading the product, the group would also distribute it to end-users through the acquired business. Asad Huseynov, its managing director of investments and asset management, said the transaction could provide a foundation for further investments or structured partnerships involving infrastructure-style assets.

The company places the acquisition within an established regional fuel-supply business. It says it supplies about 40% of Türkiye’s marine-fuel market, which it estimates at 2.5 million tonnes annually, and approximately 75% of Malta’s market. These figures are company-reported, not independently measured by Blue Ocean Chartering.

The announcement also points to continued expansion in Singapore, where the company says its hub approached 250,000 metric tonnes of monthly bunker volumes in its first full year. The Turkish agreement therefore adds vessel ownership and local distribution to a business already operating across several marine-fuel markets. The announcement does not give a completion date for the acquisition.

Source credit: This original summary draws on the company announcement linked above and the publicly accessible excerpt of Bloomberg’s report, “Energy Trader Alkagesta Gains Its First Ships With Turkish Deal”, published on 22 October 2026; Bloomberg’s full report was not available for review.