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African Oil Trader Taleveras Takes First Step Into Biofuels

  • Taleveras signs joint venture with Global Green Development
  • First phase of biofuels project seen costing $400-$600 million

Taleveras Group, the African oil trading company, is making its first moves into renewable energy by setting up a joint venture to build a biorefinery in the U.S. with Global Green Development Group.

“The world is changing,’’ said Chairman Igho Sanomi in an interview in London. “People are getting more aware on the climate, so cleaner fuels are the future. This should form a very significant part of how we look at things going forward.’’