Founded in 1992, the company primarily dealt with the marine bunker, lubricant supply and trading. Island Oil was quickly embraced by the industry and was entrusted by blue chip clients from local and international shipping markets, building a strong reputation as a reliable partner-supplier.

Headquartered in Limassol, Island Oil Ltd is the flagship of a group of companies mainly active in the marine and domestic fuels sector. The company has physical supply stations in Cyprus, Romania and Israel, share-holding in a fuel depot in Ukraine and offices in Limassol, Piraeus, Constanta, Odessa, Singapore, Haifa and London.