This article analyzes the relations between Agip and the Russian Nepthesyndacat company in the first stage of development of Italy’s oil policy. In 1926, the Italian government established the Agip Company, which immediately started upstream operations in Rumania and Albania. However, until 1934, Agip’s downstream in Italy was restricted to the marketing of imported refined oil goods. Agip used its collaboration with the Nepthesyndacat to strengthen its position in the Italian oil market, which was entirely under the control of Siap and Nafta, respectively the branches of Standard Oil of the New Jersey and Royal Dutch-Shell. The inflow of Russian fuels allowed the Italian state-owned firm to challenge the Siap-Nafta downstream activities and led to a strengthening of Agip on the Italian market, pending the
exploitation of the Rumanian and Albanian oil fields.