Oil production by the marine microalgae Nannochloropsis sp. F&M-M24 and Tetraselmis suecica F&M-M33

► Under N-starvation Nannochloropsis F&M-M24 can accumulate up to 50% neutral lipids. ► Nannochloropsis F&M-M24 grown in a GWP attains lipid productivities of 6.5 g m−2 d−1. ► Nutrient starvation does not increase lipid content in Tetraselmis suecica F&M-M33. ► Nutrient starvation increases carbohydrates (>50%) in Tetraselmis suecica F&M-M33. ► Nannochloropsis is suitable for biodiesel. Tetraselmis is suitable for bioethanol.