Energy trader Alkagesta has agreed to acquire Turkish marine fuel distributor Energy Petrol, taking its first step into owning vessels. Bloomberg reported the transaction on 22 October 2026, describing it as an expansion of the Malta-based company’s Mediterranean bunkering business.
In its own announcement, Alkagesta said the transaction has received approval from Turkey’s antitrust authority and includes eight marine fuel vessels. The company put its total global oil products storage capacity following the deal at approximately 728,000 cubic metres. It did not disclose the financial terms and said Energy Petrol would retain independent operations.
The agreement extends Alkagesta’s activities beyond trading marine fuel into delivering it directly to customers. Bloomberg’s accessible report framed the move within a broader pattern of commodity traders acquiring businesses they previously supplied, seeking stronger competitive positions and improved profitability.
Alkagesta said it already supplies around 40% of Turkey’s marine fuel market, which it estimated at 2.5 million tonnes annually, and approximately 75% of Malta’s market. The company also outlined plans to expand marine fuel supply operations in Singapore. These market-share figures and expansion plans are attributed to the company’s announcement.
According to Alkagesta, Asad Huseynov, its Managing Director of Investments and Asset Management, described the acquisition as a foundation for possible further investment or structured partnerships in infrastructure-related assets. The announcement presents the Turkish deal as a move toward combining fuel trading with the physical assets used to distribute it.
Source: Bloomberg — Energy Trader Alkagesta Gains Its First Ships With Turkish Deal, published 22 October 2026. Additional transaction details are attributed above to Alkagesta’s announcement.
