Kuwait oil company Q8 to buy 50% of Italian biodiesel producer EcoFox

Image courtesy: Jasper Juinen/ Getty Images

The Italian branch of Kuwait Petroleum International (KPI), Q8, said on Saturday that it would buy a 50 per cent stake in Italian biodiesel producer, EcoFox, as part of efforts to reduce its fossil-fuel emissions.

“This deal constitutes a pioneering step to develop, produce and distribute sustainable organic fuels in line with the goals of reducing carbon emissions in fuels,” Kuwait’s oil ministry posted on X, without disclosing the value of the deal.

EcoFox, a company controlled by Fox Petroli, owns a biofuel plant in Italy with a capacity of 200,000 tonnes per year that produces advanced biodiesel and by-products for industrial use.

Q8 supplies aviation fuel to over 70 international airports, manufacturing high-quality oils, and holds stakes in three refineries in Italy, Vietnam and Oman together with other oil companies, the Kuwaiti official news agency KUNA said.

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