KUWAIT CITY, June 27: The Kuwait Petroleum International Company (Q8) announced the successful acquisition of a 50 percent stake in Eco Focus, an Italian biofuels production company fully owned by Focus Petroleum, reports Al-Seyassah daily. This milestone follows approvals from the European Competition Commission and the Italian Competition Authority, marking a significant step in Kuwait Petroleum Corporation’s strategy towards sustainable energy by 2050. In a statement to Kuwait News Agency (KUNA), Kuwait Petroleum International highlighted the strategic importance of this acquisition in diversifying its product offerings and expanding its footprint in the European market.

The CEO ShafiAl-Ajmi expressed pride in enhancing the company’s ability to supply sustainable fuel across Europe, particularly in Italy, underscoring the alignment with their long-term market development strategy. Fadel Al-Faraj, Executive Vice President of Marketing, emphasized that this acquisition positions the Q8 brand as a leader in sustainable biofuels production in Europe. He noted the transformation of the company in Italy from a traditional fuel provider to a key player in sustainable energy solutions, coinciding with Kuwait Petroleum International’s 40th anniversary.

Eco Focus, established in the 1990s, specializes in advanced biodiesel production and industrial by-products, boasting significant production and storage capacities. This acquisition strengthens Kuwait Petroleum International’s global presence, complementing its extensive network of retail fuel stations and aviation fuel supply operations at major international airports. Overall, the acquisition underscores Kuwait Petroleum International’s commitment to sustainability and strategic growth in the European market, leveraging national expertise to capitalize on global investment opportunities and meet evolving consumer demands.