Kuwait Petroleum International signs an agreement to purchase 50% of Italy's Ecofox. Ecofox, a subsidiary of Fox Petroleum, owns a biofuel plant in Italy with a capacity of 200,000 tons annually that produces advanced biodiesel and byproducts for industrial use.
This deal constitutes a “pioneering step” to develop, produce and distribute sustainable organic fuels in line with the goals of reducing carbon emissions in the fuel used, Kuwaiti Ministry of Oil wrote on the X platform on Saturday.