BAKU, Azerbaijan, December 30. Recent developments reveal ongoing discussions in Uzbekistan to establish agencies for the import and distribution of oxytane have instilled confidence in the prospect of introducing the fuel supplement for distribution throughout 2024, a source at the Belgian Cofic Consulting and Foreign Investment Coordination company told Trend.
The source noted that an added advantage for oil companies in the use of this supplement lies in the extension of oil reserves.
“By reducing sales, these companies can prolong their selling period while contributing to a cleaner use of fossil fuels, potentially garnering more tolerance amid growing concerns about environmental impact,” he said.
The company representative added that certain governments are contemplating future bans on fossil fuels, as seen in Belgium's recent legislation stating that vehicles and machinery using fossil fuels will no longer be tax-deductible from January 1st, 2025.
“Scandinavian countries have already implemented laws to ban the use of fossil fuels. However, the prevailing sentiment reflects a tendency for governments to adopt a broad-strokes approach rather than recognize the nuanced efforts of oil companies in cleaner exploration, extraction, and processing. Oxytane presents a unique opportunity for oil companies to convey a climate-conscious message to end-users, potentially addressing negative perceptions surrounding the sustainability efforts of the industry.
Recent developments reveal ongoing discussions in Uzbekistan to establish agencies for the import and distribution of oxytane. Given that oxytane complies with European EN590 standards and ASTM standards in the United States and is in free circulation within the European Union, trade barriers are minimal. This has instilled confidence in the prospect of introducing oxytane to various markets, with plans for distribution expected to materialize throughout 2024,” the source explained.