Group 1: Acquisition of Italiana Petroli - Azerbaijan's state oil company Socar is nearing a deal to acquire privately-held Italian refiner Italiana Petroli, with the signing expected imminently [1] - The Brachetti-Peretti family, owners of Italiana Petroli, have agreed to sell the company, which controls one of Italy's largest gasoline station networks [1] - In June, it was reported that Socar was competing with Gunvor and Abu Dhabi-based Bin Butti Group for the acquisition, with the owners seeking approximately $3.5 billion (3 billion euros) for the refiner [2] Group 2: Strategic Partnerships and Developments - Socar has been expanding cooperation with foreign majors for projects both in Azerbaijan and internationally [3] - A memorandum of understanding was signed between ExxonMobil and Socar to explore unconventional onshore oil reserves, which could enhance Azerbaijan's hydrocarbon sector [3][4] - Socar has also partnered with Turkey's TPAO and UK-based BP for the development of a natural gas field in the Caspian Sea, and signed key terms with Hungary's MOL Group for an exploration and production sharing agreement in the Shamakhi-Gobustan region [5]