SOCAR Georgia Petroleum Imports First Petrol Shipment from Italiana Petroli, a SOCAR Group Company
SOCAR Georgia Petroleum has imported its first shipment of high-quality petrol from Italiana Petroli, a SOCAR Group company. The 5,000-tonne shipment complies with the EN 228 European standard and was transported to Georgia by a SOCAR vessel.
The shipment represents the first commercial supply transaction between SOCAR Georgia Petroleum and Italiana Petroli following SOCAR’s acquisition of a 99.82% stake in the Italian company from API Holding. It marks a tangible outcome of enhanced cooperation across the Group, bringing together refining, maritime logistics, local distribution and retail within an integrated international downstream value chain.
"Being part of the SOCAR Group creates real value when expertise and capabilities in one market produce tangible benefits in another. By combining Italiana Petroli’s refining expertise and quality-control capabilities with SOCAR’s international logistics and local distribution infrastructure, we are further diversifying our supply portfolio in Georgia. For our local customers, this means continued reliable access to high-quality fuel that meets European standards that we have adopted," said Nodar Kanchaveli, Director of SOCAR Georgia Petroleum.
For the Georgian market, the transaction further diversifies fuel supply sources and strengthens the reliability of fuel availability. SOCAR operates across the full energy value chain, from exploration and production to processing, transportation and marketing, supported by an extensive international presence. The acquisition of Italiana Petroli, completed on 8 May 2026, further strengthened and expanded SOCAR’s downstream operations in Europe. Italy is not SOCAR’s first European market: the Group already has established operations in Switzerland, Austria and Romania, while its broader regional presence also extends to Türkiye and Ukraine.
Georgia holds a special place in SOCAR’s international development. SOCAR Energy Georgia was established in 2006 as SOCAR’s first subsidiary outside Azerbaijan, while the first SOCAR-branded fuel station outside Azerbaijan was opened near Rustavi. The new supply relationship therefore connects SOCAR’s first overseas market with one of the Group’s most recent major European investments.
About SOCAR Georgia Petroleum
SOCAR Georgia Petroleum is one of Georgia’s largest fuel retailers, operating a nationwide network of service stations and serving more than 30,000 customers at its stations each day. The company supplies petrol, diesel and LPG, while also operating the WayMart convenience-store network and providing EV charging services.
Fuel quality is monitored throughout the entire supply and distribution chain, including at the stages of receipt, storage, transportation and delivery at service stations. Since 2012, SOCAR Georgia Petroleum has operated one of the country’s most advanced petrol and diesel testing laboratories. The laboratory operates in accordance with ISO 17025 requirements and is equipped with European and American testing technologies. It also participates in international inter-laboratory comparisons, while the company’s quality-control procedures are designed to verify fuel parameters relevant to performance, safety and environmental impact.
The company is also investing in lower-emission mobility and energy-efficient infrastructure. In 2026, SOCAR opened the first fully electric vehicle charging station in the South Caucasus in Tbilisi. The facility operates partly on solar energy and complements solar installations already in operation at SOCAR stations across Georgia.
About Italiana Petroli
Italiana Petroli, part of the SOCAR Group, is one of Italy’s leading companies in the fuels and mobility sector. With more than 90 years of history, the company operates an integrated industrial and logistics system comprising two refineries, approximately 5 million cubic metres of storage capacity and 4,575 points of sale across Italy. Its network records more than 680,000 refuelling transactions per day.
SOCAR completed the acquisition of a 99.82% stake in Italiana Petroli on 8 May 2026, following the receipt of all required regulatory approvals.
About SOCAR
SOCAR is a global energy company headquartered in Azerbaijan, specializing in the exploration, extraction, processing and distribution of energy resources. As the largest integrated energy enterprise in the South Caucasus region, SOCAR maintains a significant international presence, underscoring its role across a range of international energy markets.
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Basisbank has signed CIPS Direct Participation agreement
08.09.2026.17:13
Basisbank has obtained direct participation in the Cross-Border Interbank Payment System (CIPS), marking an important milestone in the Bank’s development of international payments and RMB business capabilities.
Direct CIPS membership strengthens Basisbank’s connectivity with China and international financial markets, enhances the efficiency of RMB-denominated cross-border transactions, and creates new opportunities to support growing trade and investment relations between Georgia and China.
Alongside joining CIPS, Basisbank signed a Memorandum of cooperation with the Agricultural Bank of China, which will provide the clearing infrastructure for DP CIPS operations.
Basisbank remains committed to strengthening its international banking infrastructure and providing clients with modern, efficient and competitive solutions for cross-border payments.
"Obtaining CIPS direct participant status and establishing a partnership with one of the largest international banks is an important strategic milestone for us, demonstrating once again that Basisbank is actively progressing in alignment with global banking standards. This cooperation will significantly streamline the transaction process in RMB and unlock new opportunities for our clients and business partners interested in international trade," stated Lia Aslanikashvili, Financial Director of Basisbank.
About Basisbank Group
In April 2026, Basisbank acquired a 95.99% stake in Liberty Bank. Basisbank Group is the third-largest systemic financial institution in Georgia, holding an 11% market share. The Group serves over 2 million individuals and more than 65,000 corporate and SME clients. It boasts the largest network nationwide, operating around 500 service centers and nearly 700 ATMs across all regions and municipalities of Georgia.
According to data from the first 7 months of 2026, Basisbank Group's total assets stand at GEL 12.1 billion, with a total loan portfolio of GEL 7.9 billion and a deposit portfolio of GEL 9.1 billion. The Group's net profit for the first 7 months of 2026 reached GEL 128 million.