Shell Eastern Petroleum (Pte) Ltd., a wholly owned subsidiary of Shell plc, today announced that it has acquired EcoOils Ltd., a waste oil recycling company. The acquisition is part of Shell’s goal to increase production of sustainable, low-carbon fuels for transportation, including sustainable aviation fuel.
The acquisition includes 100% of EcoOils’ Malaysian subsidiary and 90% of its Indonesian subsidiary.
EcoOils uses recycling technology to reduce waste sent to landfills and produce spent bleaching earth oil, an internationally recognized biofuel feedstock that can be used to produce sustainable, low-carbon fuels. To do.
“Shell invests in and produces sustainable, low-carbon fuels for transportation to continue supplying our customers with the energy products they need into the future. It gives us safe access to recognized advanced feedstocks that we can use to achieve our goals,” said Sinead Lynch, senior vice president of low-carbon fuels at Shell. “This acquisition underscores the continued transformation of Shell’s business as it strives to provide customers with more low-carbon energy solutions as part of its decarbonization journey.”
Low-carbon fuels help meet the growing demand for decarbonized solutions from customers in the transportation sector, including hard-to-decarbonize sectors such as aviation. Sustainable aviation fuel currently accounts for about 0.1% of the world’s aviation fuel. Shell aims for at least 10% of global aviation fuel sales to be sustainable aviation fuel by 2030.
