Ge smith bio oil

Major players such as BP, Chevron, Shell, Total Energies, ExxonMobil and Eni are incorporating biofuels into their broader energy transition strategies, recognizing the growing global demand for sustainable fuel sources. While investments span various biofuel products, including biodiesel and ethanol, the focus is clearly on hydrotreated vegetable oil HVO and sustainable aviation fuel SAF , which are expected to make up nearly 90 percent of the projected biofuel production.

Analyzing the implementation of these investments, which could add a combined , barrels Six involve coprocessing—integrating bio feedstock into existing crude-oil refineries to produce a blended feedstock—while another six are full conversions of refineries to facilities dedicated exclusively to biofuel production.

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Coprocessing stands out as a cost-effective option that allows companies to leverage existing infrastructure and reduce upfront investment, making it an appealing choice for oil majors entering the biofuels market. The 43 biofuel projects announced by oil majors signal promising developments in the industry. This project will have a production capacity of 16, bpd of HVO and SAF, a potential gamechanger in meeting rising demand for biofuels in the near future.

Other oil majors, including Chevron, Eni, Shell, Total Energies and ExxonMobil, are also making significant strides, particularly in the advanced biofuels sector, although many of these projects are still in development. BP and Chevron hold significant positions in operational capacity. The acquisition has enabled BP to exceed its milestone of 50, bpd and positions the company to achieve its biofuel target of , bpd by Total Energies has also outlined aggressive biofuel targets, aiming to use waste biomass for 75 percent of its biofuel production by the end of To achieve this, the French integrated energy and petroleum company plans to prioritize waste and residues from the food industry, such as used oils and animal fats, to avoid land-use conflicts.