Following a series of investigations that started by the United Nations Security Council on oil sanctions busting by Alkagesta, we extensively investigated Alkagesta’s activity in Malta. Alkagesta is a company from Azerbaijan, created by ex-Socar traders, that became Malta’s largest oil bunkerer at the Freeport terminal of Evos.
Alkagesta has been listed as a sanctions violator by the UNSC with regard to Libyan oil and it has also imported Russian oil in Malta. Alkagesta’s owner was arrested in Azerbaijan in 2025 over oil fraud.
Following extensive investigations and scrutiny about the company, the company has reduced bunkering activity of Russian oil in Malta and restricted most of its Russian oil trading in Turkey via the port of Marmara at the Opet terminal. One of the vessels importing Russian oil to this terminal is the Durga IMO: 9260005, which was also boarded and seized by Turkish officials earlier this year over safety and environmental violations. Durga has been transporting Russian oil from Novorossiysk to Turkey.
The ship has changed names and official ownership registration multiple times and it is currently flying under the flag of Saint Kitts and Nevis and is owned by Lea Shipping Corp (it was previously and at one point named Sea Mercury and registered in Valletta).
Alkagesta is also hiding by a stream of companies to conceal its Russian oil trades and it has been conducting this practice extensively for some time as already reported. A new company potentially identified as part of Alkagesta’s network is D-Zell Petroleum.
Industry insiders state that Alkagesta has a very similar business model in Turkey to Malta. Alkagesta is running the highest trading volumes at the Opet terminal in Marmara just like they did at the Evos terminal in Malta. The voluminous trading activity gives them a significant advantage in the oil bunkering market.
One of Alkagesta’s most active traders today has been identified as Akif Mammad-Zade, who serves as its global operations manager. Traders involved include Elchin Guliyev and his brother Javid Guliyev under the supervision of Salman Majidov.
In Turkey, Alkagesta was previously investigated for using forged oil documents. There are also individuals related in the Russian oil trading in Turkey with Alkagesta who were also involved in its sanctions busting in Libya.
This is a very extensive and ongoing investigation.
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Historian and Publisher
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