The present invention relates to a newly identified lipase belonging to the Ustilaginaceae family of Basidomycetes and variants thereof. The invention also relates to polynucleotides encoding the lipase and the variants thereof. The invention further relates to procedures for producing the lipase, and variants thereof, polypeptides and polynucleotides. The invention further relates to lipase variants with an increased trans-selectivity. The invention further relates to lipase variants with a preference for long chain fatty acid esters or carboxylic acid moieties with a chain length greater than C12. The invention further relates to a method of reducing, or eliminating, trans-fatty acids from liquid oil stable enough for frying systems.
