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Friday February 27 2026
SOCAR wins European Commission approval for Italian takeover

SOCAR wins European Commission approval for Italian takeover

Brussels is prepared to embrace new actors in Europe’s energy market as the European Commission has given the green light for Azerbaijan’s state energy giant SOCAR to acquire Italiana Petroli, one of Italy’s largest integrated downstream energy platforms. The approval covers a 99.82% stake in the company, in a deal first signed in September 2025 but only recently cleared by EU regulators as having no competitive concerns.

Iran-US nuclear talks in Geneva: Strait of Hormuz risks and Azerbaijan’s energy strategy

Iran-US nuclear talks in Geneva: Strait of Hormuz risks and Azerbaijan’s energy strategy

A closure of the Strait of Hormuz, through which roughly 20% of global oil passes, would trigger an immediate shock to energy markets. Oil prices could surge to $120–$150 per barrel, with US gasoline prices potentially exceeding $3–$4 per gallon. This would fuel worldwide inflationary pressures.

Azerbaijani banks’ net foreign assets soar 1.2 times

Azerbaijani banks’ net foreign assets soar 1.2 times

As of February 1 this year, the net foreign assets of banks in Azerbaijan amounted to 26.648 billion manat (approximately 15.7 billion US dollars), AzerNEWS reports. According to the Central Bank of the Republic of Azerbaijan (CBA), this represents an increase of...

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