Energy Petrol founder Mustafa Muhtaroğlu has confirmed that Alkagesta has completed its acquisition of the Turkish physical bunker supplier, with the share transfer executed on Friday.
"It was time to handover our baby to young ambitions and growing team," Muhtaroğlu told Ship & Bunker on Monday.
Malta-based commodity trading firm Alkagesta had announced the acquisition in October.
Muhtaroğlu said Energy Petrol had achieved significant growth since its establishment in 1997, becoming Türkiye's third-largest physical bunker supplier in 2025, according to official figures published by the country's Energy Market Regulatory Authority (EPDK).
He added that the company's entire team would remain in place under the new shareholders.
“I am confident Energy Petrol will be giving same excellent service by new shareholders as full team stays,” he said.
Energy Petrol owns eight bunker barges and has maintained another barge on time charter since 2005.
Muhtaroğlu was the founding chairman of the Turkish Bunker Association (TBA) and served as an IBIA board member for 20 years.
