ExxonMobil invests in Norwegian biofuels firm Biojet

Deal includes offtake agreement for wood-based biofuels for transport applications from new production facilities northwest of Oslo

US oil major ExxonMobil has bought a 49.9pc stake in Norwegian company Biojet, which expects to start production of liquid biofuels for the transport sector in 2025. Under the deal, ExxonMobil will buy up to 3mn bl/yr from five new facilities being developed by Biojet at Follum, northwest of Oslo. ExxonMobil will distribute the biofuels and biofuel components—which will be made from the conversion of forestry and wood-based construction waste—across Norway and northwest Europe via the Slagen oil terminal. “The agreement with Biojet advances ExxonMobil’s efforts to provide lower-emissions products for the transportation sector,” says Ian Carr, president of the fuels and lubricants division of