These investments are expected to contribute towards bp’s aim to produce around 100,000 barrels of biofuels per day by 2030.
“We’ve set our target to be a net zero company,” he said. “We’re making great progress on that.”
💡 Why it matters
Biofuels are a vital part of the energy mix for the world to get to net zero. They can help to decarbonize hard-to-electrify sectors like aviation and shipping. The demand from customers for biofuels is already here, today, and it is growing too.
There isn’t a single solution to decarbonize the world’s energy systems, so biofuels are going to play an important role. It’s why bioenergy – including biofuels – is one of our five transition growth engines, alongside convenience, EV charging, hydrogen, and renewables & power.
That’s why bp is investing in all of these areas to help accelerate the energy transition, while also investing in today’s energy system, which is mainly oil and gas.
Extracted in full from: Ready for take-off: bp supplies sustainable aviation fuel for historic transatlantic flight | News and insights | Home