Reported 2 months ago
Major oil companies are significantly increasing their investments in biofuels, anticipating 43 projects focused on sustainable aviation fuel (SAF) to be operational by 2030, according to consultancy Rystad. These initiatives could boost production capacity by 286,000 barrels per day, utilizing waste materials to create SAF which, despite being costlier than traditional jet fuel, is gaining traction due to regulatory support. The European Union and U.S. government mandates are pushing for a substantial integration of SAF in aviation by 2025 and 2050, respectively.
Source: YAHOO