Emirates Petroleum Company PJSC (Emarat), a pioneer and trusted leader in the UAE’s energy retail sector, has entered into a strategic partnership with MegaTrade, a leading Armenian fuel and energy company and flagship entity within the diversified portfolio of SIL Capital, marking a major milestone in Emarat’s international expansion. Signed in Yerevan, Armenia, on September 29, 2025, the agreement will bring the internationally recognized Emarat brand to Armenia for the first time.
A New Era for Armenia’s Energy Market
Under this partnership, MegaTrade will collaborate with Emarat to develop and operate a nationwide network of Emarat-branded service stations across Armenia. These stations will deliver high-quality fuel products, uphold global health, safety, and environment (HSE) standards, and offer exceptional customer experiences through a scalable and sustainable collaboration model. The initiative aims to set a new benchmark for fuel quality, safety, and operational excellence in Armenia’s energy sector.
Signing Ceremony in Yerevan
The agreement was formalized at an honorary ceremony held at Yerevan’s Albert Hall, attended by H.E. Tigran Avinyan, Mayor of Yerevan, and H.E. Dr. Nariman Mohd Sharif Abdulla Al Mulla, Ambassador of the United Arab Emirates to Armenia.
The accord was signed by Eduard Sukiasyan, Chairman of SIL Capital and shareholder of MegaTrade, and H.E. Ali Khalifa Al Shamsi, CEO of Emarat, in the presence of senior officials and prominent business leaders from both countries.
Leadership Statements
Eduard Sukiasyan, Chairman of SIL Capital and shareholder of MegaTrade, stated: “Today we are opening a new chapter in Armenia’s fuel and energy sector. By combining Emarat’s international expertise with the capabilities of SIL Capital and MegaTrade, we will deliver services that meet the highest global standards. In a rapidly evolving environment, our goal is clear: to offer Armenian consumers nothing but the best. This partnership will establish Emarat as a new benchmark for energy services in Armenia.”
H.E. Ali Khalifa Al Shamsi, CEO of Emarat, added: “This agreement with MegaTrade is a defining step in Emarat’s regional growth journey. By entering the Armenian market, we are introducing a trusted brand underpinned by international standards in fuel quality, safety, and customer service. Together with our Armenian partners, we will establish a scalable and sustainable model that not only delivers modern service-station and retail experiences but also builds local expertise. This partnership underscores Emarat’s commitment to delivering value for stakeholders, empowering communities, and strengthening regional cooperation.”
Economic & Strategic Significance
The collaboration is expected to stimulate investment, create employment opportunities, and position Armenia as a regional hub for international petroleum retail services. By blending global expertise with local ambition, Emarat and MegaTrade aim to redefine the future of Armenia’s energy landscape and further enhance UAE–Armenia economic relations.
The collaboration unites innovation, growth, and community impact, signaling a new era for Armenia’s energy future.
About Emarat Petroleum
Founded in 1981 by the Government of the United Arab Emirates, Emirates General Petroleum Corporation (Emarat) is a national energy champion providing fuel, lubricants, advanced car-wash systems, storage, and logistics solutions. Emarat is recognized as one of the UAE’s most trusted energy brands, combining quality, innovation, and international best practice.
About MegaTrade
Founded in 2020, MegaTrade is one of Armenia’s leading fuel and energy companies, operating one of the nation’s largest fuel-station networks under the Run Oil brand. Beyond retail distribution, it is a major player in bitumen import and production. In 2022, MegaTrade acquired the Surenavan Bitumen Plant, the largest of its kind in the region, with storage capacity exceeding 15,000 tons and daily production of 300 tons, serving both domestic and export markets.
About SIL Capital
Established in 2012 by the Sukiasyan family, SIL Capital manages a diversified portfolio of businesses spanning finance, aviation, petroleum refining and distribution, energy, and other strategic sectors. It is among Armenia’s leading investment groups, driving national economic development and expanding international partnerships.
