BP signs sustainable biofuel feedstock deal
Ten-year deal with agribusiness Nuseed gives oil major supply of carinata oil to process or trade into growing market
BP has signed a 10-year offtake deal with Australia-based agribusiness Nuseed under which it will buy non-food crop carinata oil, a feedstock for sustainable biofuels production. Under the deal, BP or its affiliates will buy carinata oil to process or to sell to other sustainable biofuel producers through its trading and shipping operation. BP says it expects to initially target low-carbon biofuel markets in Europe and North America. “By working with Nuseed, we can use their sustainable feedstock to help decarbonise challenging transportation sectors such as aviation, supporting the production of sustainable aviation fuel and other biofuels,” says Carol Howle, executive vice-president, tradi
Also in this section
29 April 2024
Decarbonisation push and shifting multilateral trade policy sharpens continent’s need for carbon trading
29 April 2024
Canada’s oil sands producers need policy certainty to make the multibillion-dollar investments needed to achieve net zero, Pathways Alliance president Kendall Dilling tells Carbon Economist
25 April 2024
Carbon capture rates forecast to rise steadily from end of decade, but policy tools to drive large-scale deployment have yet to take shape, according to DNV
23 April 2024
Europe must unlock cross-border CO₂ trade if it wants to build a viable CCS sector for the long term