Indian Oil, India’s largest state-owned oil and gas corporation, is urging the government to allow biodiesel to be processed alongside traditional crude oil at its refineries, a shift it argues could facilitate the country’s ambitions for a 5% biodiesel blend by 2030.
Neste Corp. on Oct. 24 released third quarter financial results, reporting that its renewables segment has been impacted by overcapacity and lower-than-expected voluntary demand for sustainable aviation fuel (SAF). Heikki Malinen, president and CEO of Neste, said overcapacity in renewable fuel markets is creating pressure on margins. Neste Corp. on Oct. 24 released third quarter […]
Malaysian palm oil futures rose to their highest level in more than two years on Wednesday, fuelled by an expected drop in production. The benchmark palm oil contract for January delivery on the Bursa Malaysia Derivatives Exchange closed 100 ringgit higher at 4,486 ringgit a tonne.
The Philippines on Oct. 1 increased its coco-methyl ester (CME) biodiesel mandate from B2 to B3, according to a report filed with the USDA Foreign Agricultural Service’s Global Agricultural Information Network. The mandate is scheduled to increase to 4% in October 2025 and 5% in October 2026. The move to a B3 mandate is the […]
Indonesia plans to make the use of B40 biodiesel (containing 40% palm oil) mandatory from 1 January 2025, a senior official from the country’s energy ministry has said. The move pushed palm oil prices to recent peaks. Indonesia’s energy ministry estimates that the B40 directive, once implemented, will increase biodiesel consumption to 16 million cubic […]
Oct. 24,Italian energy group Eni said Thursday that U.S. fund KKR will buy a 25 percent stake in its biofuels unit Enilive for a deal consideration of 2.938 billion euros. KKR’s investment improves the capital structure of Eni Group and reduces its net financial position, while ensuring that Eni continues to consolidate and control Enilive.
Canadian Business Aviation Association (CBAA) as a formal member of the growing sustainability advocacy campaign focused on advancing the business aviation industry’s commitment to reaching net-zero carbon emissions by 2050. The partnership was announced at the 2024 NBAA Business Aviation Convention & Exhibition (NBAA-BACE) in Las Vegas.The announcement comes one year after the advocacy initiative […]
The Brazilian mining company Vale and Petrobras announced Oct. 18 the signing of a strategic-alliance agreement to supply products with a focus on competitiveness and advancing the decarbonization agenda. This agreement, which reflects the natural evolution of the protocol of intentions signed by the companies in September 2023, establishes conditions for testing and potentially marketing […]
Unifuel Technologies (Unifuel) announced on 22 October that it has closed a $3 million financing round for its Flexiforming technology, which the company says can reduce SAF production costs by up to 50 per cent and associated carbon emissions by up to 75 per cent. The seed round, led by TO VC with participation from […]
Wizz Air announced Oct. 21 that it will trial operations using sustainable aviation fuel (SAF) in collaboration with Airbus. Wizz Air said this positions the airline at the forefront of compliance with the EU’s forthcoming RefuelEU aviation regulations, which are set to take effect in 2025. As part of the EU’s Fit for 55 package, the RefuelEU aviation regulation […]