Kuwait Petroleum International, Italy branch, announced the signing of an agreement to purchase a 50% stake in the Italian company “Ecofox”, which specializes in manufacturing organic fuels. This step comes in line with the company’s commitment to reducing carbon emissions and promoting the energy transition strategy by 2050.

Ecofox has been a major player in the organic fuel market since the 1990s. The company has a factory in Vasto, Italy, with a production capacity of 200,000 tons per year, and produces a wide range of biodiesel fuel and products for industrial use.

The deal is an important step for the development, production and distribution of sustainable organic fuels. The deal is in line with the goals of reducing carbon emissions in the transportation sector, and it also contributes to achieving the company’s strategy for transitioning to clean energy by 2050.

Shafi Al-Ajmi, CEO of Kuwait Petroleum International, said: “This deal is an important strategic investment that supports our commitment to reducing carbon emissions and enhancing the energy transition strategy. We look forward to working with Ecofox to strengthen our position in the organic fuel market and enhance our contribution to achieving a more sustainable future.”

Kuwait Petroleum International was established in 1983 as a marketing company affiliated with the Kuwait Petroleum Corporation. The company operates a huge network of retail fuel stations and dedicated transportation service stations in Europe, more than 4,700 stations. The company supplies air navigation with aviation fuel at 70 airports around the world, and manufactures and markets The company owns oils and shares in 3 international refineries in Italy, Vietnam and Oman through partnerships with international oil companies.