Yerevan, Armenia —  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 fuel and energy company in Armenia and a flagship entity within the diversified portfolio of SIL Capital. The agreement will bring the internationally recognized Emarat brand to Armenia for the very first time.

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 adhere to international benchmarks for fuel quality, health, safety, and operational excellence, setting new standards for the local energy sector.

The agreement was formalized at an honorary ceremony 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 agreement 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 nations.

Eduard Sukiasyan, Chairman of SIL Capital and shareholder of MegaTrade, commented:

“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,”

Highlighting the significance of this milestone, H.E. Ali Khalifa Al Shamsi, CEO of Emarat, said:

“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.”

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 are set to redefine the future of Armenia’s energy landscape.

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 country’s largest networks of fuel stations under the Run Oil brand. Beyond retail fuel distribution, MegaTrade is also a major player in bitumen import and production. In 2022, the company 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 local demand 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. Today, SIL Capital stands as one of Armenia’s leading investment groups, fostering national economic development and expanding international partnerships. MegaTrade, as part of SIL Capital’s portfolio, reflects the group’s strategic focus on energy and fuel infrastructure.