Newsletter subscribe

Oil & Gas

Egypt inks agreement with UAE’s Rega Energy to produce biofuel

Posted: May 18, 2022 at 7:34 pm   /   by   /   comments (0)

Egypt to partner with Emirati company to produce biofuels: State-owned Egyptian Petrochemicals Holding Company (ECHEM) signed an agreement with the UAE’s Rega Energy to produce algae oil, the Oil Ministry announced in a statement yesterday, without disclosing the details of the agreement. Algae oil is a feedstock for bio-jet fuel and green naphtha, which can be used to make environmentally-friendly petrochem products, the statement read.

Could this algae oil feed our big green petrochem plans? The Oil Ministry last week announced plans to build some USD 1.25 bn worth of new green petrochemical projects, including a USD 600 mn biofuel production plant set to produce biofuels from algae oil.