Oilmar Owner Arrested in Azerbaijan

by Jack Jordan, Managing Editor, Ship & Bunker
Wednesday September 24, 2025

The owner of marine fuel trading firm Oilmar has reportedly been arrested in Azerbaijan, prompting a management buyout of the bunker company.

Adnan Ahmadzada has been accused of acts of sabotage against economic security and large-scale embezzlement and arrested by Azerbaijan's State Security Service, news agency APA reported this week.

Ahmadzada was listed as the 100% owner of Oilmar Shipping and Chartering DMCC in Dubai as of March 2024, according to a registration document seen by Ship & Bunker.

Oilmar's management is now in the process of taking over ownership of the company, CEO Yusif Mammadov said in a note to clients on Monday.

"The Company's management has already commenced the process of acquiring all shares of Oilmar DMCC," Mammadov said.

"This buy-out process is actively underway and is expected to be finalized within the next few days.

"This strategic move aims to ensure the continuity of our operations and protect the business from any potential disruption during the investigation period."

There is no suggestion that Oilmar itself had any involvement in the alleged crimes of which Ahmadzada has been accused.

"We want to assure our stakeholders that this matter will not impact our day-to-day operations or our ability to deliver high-quality services," Mammadov said.

"We will continue to operate as usual, maintaining the same standards of integrity and professionalism."

About Jack Jordan

Jack Jordan

Jack Jordan is the Managing Editor of Ship & Bunker, the world’s most read marine fuel-focused publication.

He is an experienced financial editor and reporter with a first-class degree in Arabic and Russian, a postgraduate diploma in newspaper journalism and several years' history of covering the oil and shipping industries and capital markets.

Jack is based in London, UK.

About Ship & Bunker

Ship & Bunker is the world's most read publication focused on the marine fuel markets. Completely independent, it is the leading industry authority providing comprehensive daily news, exclusive in-depth features and analysis, along with daily & historical bunker price indications.

To contact the editor responsible for this story email us at editor@shipandbunker.com