Georgia’s former economy minister, Levan Davitashvili, has been appointed CEO of Italiana Petroli (IP), an Italian petroleum and energy firm, following its acquisition by the State Oil Company of the Azerbaijan Republic (SOCAR), which announced the appointment after completing the purchase of 99.82% of IP’s share capital.
In a May 13 press release, IP said Davitashvili will lead its operations in Italy, “with the focus of ensuring operational continuity, preserving and further strengthening its position in the national energy market, and overseeing the company`s integration within the broader SOCAR Group.”
The company said that Davitashvili is “proficient in the Italian language” and “brings over 25 years of experience across senior public and private sector leadership positions.” It noted that during his tenure as Georgia’s economy minister, he “led the country’s economic strategy and supported the implementation of major infrastructure initiatives.”
The press release added that Davitashvili also guided Georgia’s “involvement in the Green Energy Corridor initiative, connecting the South Caucasus to European Union member states” and “since November 2025, he has served as Advisor to the President of SOCAR.”
Levan Davitashvili served as Georgia’s economy minister and deputy prime minister from 2022 until June 2025, when he was replaced by current minister Mariam Kvrivishvili. Following his departure, Davitashvili was appointed chief economic adviser to Georgian Dream Prime Minister Irakli Kobakhidze and secretary of the Economic Council, a coordinating body.
He has also chaired the board of Black Sea Petroleum, the company that operates the Kulevi Oil Terminal on Georgia’s Black Sea coast. In recent months, the terminal came under scrutiny over its alleged role in facilitating Russian oil exports and was initially considered for inclusion in the European Union’s 20th sanctions package against Russia. The EU ultimately decided not to include the port in the sanctions package, citing “positive commitments” by Georgian authorities and the terminal’s operator SOCAR.
In February 2026, Davitashvili was questioned by the Anti-Corruption Agency of the State Security Service of Georgia (SSSG) for what authorities later described as “part of an ongoing investigation into a contract signed with one of the major oil companies.” Davitashvili said “discussions” concerned, among others, possible risks related to Georgia facilitating gas supplies to Europe. The agency later corrected him, clarifying that he had been at a questioning, not a discussion, and that the questions focused on risks related to Georgia’s own gas supplies and contract terms affecting the country, not the EU’s gas supplies.
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