bp’s Post

„…BP Plc expanded its biofuel operations in Brazil by agreeing to take full control of a joint venture with Bunge Global SA. The acquisition of 50% of BP Bunge Bioenergia SA will give BP the capacity to produce about 50,000 barrels a day of ethanol equivalent from sugarcane, the London-based company said in a statement on Thursday. The stake has an enterprise value of around $1.4 billion. The deal should unlock opportunities to grow the business further and develop next-generation biofuels suitable for aviation, and also biogas, according to the statement. BP has pledged to achieve net zero emissions by 2050 and gradually shrink its oil and gas production in the coming decades. It has been investing heavily in renewable electricity — mainly wind and solar — as the main source of clean energy. However, biofuels also have a major role to play in decarbonizing transport as long as battery power remains unsuitable for air travel. Subject to regulatory approvals, BP expects the transaction to close by the end of 2024.“

📢 bp agrees to take full ownership of its Brazilian #biofuels joint venture, acquiring Bunge’s 50% interest. High-returning transaction will allow bp to realise synergies and continue to grow the business. In parallel, scaling back plans for development of new biofuels projects, pausing two while continuing to assess three. Changes contribute to delivery of bioenergy #transition #growth engine target of ~$2bn💲💲 #EBITDA by 2025. #Bioenergy is one of bp’s five transition growth engines and includes liquid biofuels for road, sustainable aviation and maritime fuels, and biogas.

Exciting news from our biofuels business! 🎉 We've announced our agreement to take full ownership of our Brazilian biofuels joint venture, bp Bunge Bioenergia S.A. acquiring the remainder of Bunge's 50% holding interest. bp Bunge Bioenergia is already an efficient and competitive business and is widely recognized as a leader in the industry. It has the capacity to produce around 50,000 barrels a day of ethanol equivalent from sugarcane and operates with an integrated business model that covers the entire production chain.   This deal significantly grows bp’s biofuels business – part of our bioenergy transition growth engine.  bp believes ownership will also offer the potential to unlock further growth opportunities in the region – which we’re hugely excited about.     Brazil offers a significant growth base in the energy transformation. The country is uniquely placed to become a core global supplier of low carbon raw materials, including green ammonia, SAF, green steel, and bio feedstocks. We expect to complete the acquisition – subject to regulatory approval – by the end of this year.     #biofuels #Brazil #netzero #bioethanol https://lnkd.in/gTQMsQCS

If reducing the carbon intensity of fuels is a critical element to achieving meaningful emissions reductions, the role of biofuels must not be overlooked. How the market leverages the lower carbon intensity of ethanol, biodiesel and renewable diesel will be critical, as will the ability of the biofuels sector to further lower the carbon intensity of their fuel products. Join us this May as we will dive deep into the real impact of biofuels on the transportation sector and ancillary markets, the potential for expanding the use of such fuels and the trajectory for further reducing associated life cycle carbon emissions. "Biofuels – The Near-Term Solution?" is just one of the many topics we will cover at our annual conference. Join the conversation! Make your Early Bird registration plans now: https://bit.ly/485IukT #biofuels #carbonemissions #fueleconomy #transportationinfrastructure John Eichberger Jeff Hove Karl Doenges Liz Menz Marjorie Frankel Amy Kalafa Meagan Ray

Another milestone achieved by BP in its transformation into an Integrated Energy Company! Congratulations to the team at BP for their commitment to investing in renewable fuels while delivering returns to shareholders. Demonstrating that sustainability and profitability can indeed co-exist. On a personal note, having firsthand experience working in Brazil and on ethanol production from sugarcane, I can attest to the immense potential it offers not only as a low carbon fuel but also as a feedstock for other crucial low carbon fuels, especially for hard-to-decarbonize sectors like Aviation and Marine. Exciting times lie ahead as we pave the way for a more sustainable future! #BP #IntegratedEnergy #Biofuels #LowCarbon #RenewableEnergy Read more: https://lnkd.in/ePH6ZeY2

𝐁𝐢𝐨𝐟𝐮𝐞𝐥 𝐌𝐚𝐫𝐤𝐞𝐭 𝐒𝐢𝐳𝐞 𝐛𝐲 𝐭𝐡𝐞 𝐲𝐞𝐚𝐫 2031 𝐆𝐞𝐭 𝐅𝐫𝐞𝐞 𝐀𝐜𝐜𝐞𝐬𝐬 𝐭𝐨 𝐃𝐞𝐦𝐨 𝐑𝐞𝐩𝐨𝐫𝐭:  https://lnkd.in/dt2iBpx7 Biofuels are renewable fuels made from biomass such as plant matter, animal matter, or human waste. Several nations are making efforts to reduce their reliance on foreign oil. With oil refineries operating at full capacity and rising prices, businesses and consumers are looking for alternatives. There are hundreds of millions of cars and light trucks on the road across the world, and the only non-petroleum energy source available to use in them is biofuels, which are gasoline and diesel made from various crops. Increased interest in ethanol and biodiesel, two types of liquid biofuels, has resulted from the recent increase in oil prices. However, biofuels will eventually be used to replace fossil fuels. Fans of advanced biofuel say it's the best renewable alternative to petroleum-based fuels like gasoline and diesel and is widely available. To date, this is the only renewable energy source that has proven to be a drop-in replacement for the liquid fuels used in the vast majority of internal combustion vehicles. 𝐒𝐨𝐦𝐞 𝐌𝐚𝐣𝐨𝐫 𝐊𝐞𝐲 𝐏𝐥𝐚𝐲𝐞𝐫𝐬 𝐈𝐧 𝐓𝐡𝐞 𝐁𝐢𝐨𝐟𝐮𝐞𝐥 𝐌𝐚𝐫𝐤𝐞𝐭: ADM Chevron Valero Neste Cargill Wilmar International Verbio North America Borregaard POET The Andersons, Inc. Green Plains Inc. BP Finance p.l.c.. FutureFuel Chemical Company Münzer Bioindustrie GmbH Aemetis. CropEnergies AG Raízen Blue Biofuels. Pannonia Bio Zrt. GREENJOULES PVT LTD. Algenol #Biofuels #RenewableEnergy #Ethanol #Biodiesel #SustainableFuel #GreenEnergy #AlternativeFuels #EnergyTransition #CleanEnergy #Biomass #FuelInnovation #EnvironmentalSustainability #EnergyIndependence #AdvancedBiofuels #BiofuelMarket #EcoFriendly #FuelAlternatives #MarketTrends #EnergySecurity #ClimateAction

🌟 Exciting Investments at Biofuels Brazil Congress 📅 Dates: November 27-28, 2024 📍 Location: São Paulo, Brazil Get the report here https://shorturl.at/DBpmi - ETHANOL PRODUCTION EXPANSION (Atvos - $920M) Atvos is investing $4.6B by 2025 to expand ethanol production, reflecting their commitment to meeting market demand and promoting renewable energy. - CORN ETHANOL IN CAMPO MOURAO (Coamo Agroindustrial - $700M) Coamo Agroindustrial Cooperative is investing $700M to modernize infrastructure and build a corn ethanol plant with a 1,700 tons/day capacity and a 30 MW cogeneration system. - PAULINIA ECOPARK BIOMETHANE PRODUCTION (Grupo Orizon & Compass - $161M) Grupo Orizon and Compass are launching Brazil's largest biomethane project, set to produce 180,000 m³/day of biomethane from urban waste, cutting greenhouse gas emissions by 95%. - BIODIESEL PRODUCTION IN CURITIBA (Grupo Potencial - $325M) Grupo Potencial is investing $310M to expand biodiesel production in Paraná, creating 250 direct jobs and supporting Brazil's biofuel and carbon reduction goals. Join us at the Biofuels Brazil Congress to explore these groundbreaking projects and more. 🔗 Register for the Forum https://inlnk.ru/MjzvyG #BiofuelsBrazil #RenewableEnergy #SustainableDevelopment #Ethanol #Biomethane #Biodiesel #InvestmentProjects #GreenEnergy #Innovation #Sustainability

𝐀𝐢𝐦𝐢𝐧𝐠 𝐭𝐨 𝐑𝐞𝐝𝐮𝐜𝐞 𝐄𝐦𝐢𝐬𝐬𝐢𝐨𝐧𝐬, 𝐀𝐮𝐬𝐭𝐫𝐚𝐥𝐢𝐚𝐧 𝐆𝐨𝐯𝐞𝐫𝐧𝐦𝐞𝐧𝐭 𝐂𝐨𝐧𝐬𝐢𝐝𝐞𝐫𝐢𝐧𝐠 𝐀𝐥𝐭𝐞𝐫𝐧𝐚𝐭𝐢𝐯𝐞 𝐨𝐟 𝐁𝐢𝐨𝐟𝐮𝐞𝐥𝐬 This week, the government said that it was looking into ways to enhance the production and use of biofuels, also known as low carbon liquid fuels (LCLF), in heavy vehicle fleets, aviation, rail, and maritime sectors. Read More: https://bityl.co/QYyY #emmision #emissionreduction #australian #government #Biofuels #chemicals #biofuel #news #NewsUpdate #businessnews #InsightsSuccess

Biofuels serve as a renewable, alternative fuel in the road transportation sector and have been increasingly touted as a solution to help decarbonize transport in aviation and maritime industries. The EU recently increased its targets related to the share of renewable energy used in the transport sector from 14% to 29% which includes the energy used in road, rail, aviation and shipping transport. As the application of biofuels widens, so too does demand to hedge the price risk of biofuels. ICE offers a range of biofuel futures contracts to address hedging needs including first and second-generation biodiesel and bioethanol, as well as alternative fuels like ammonia and methanol. Trading volumes are increasing with ICE’s waste-based UCOME biodiesel contract, based on price assessments by Argus Media, hitting a monthly record volume of over 787,000 metric tons while open interest, at the end of November 2023, reached a record of 780,000 metric tons, up 40% y/y. #biofuels #alternativefuel #transport For more information, reach out to: [email protected]

In the Spotlight: Biofuels    Ethanol is used as a substitute for gasoline in various biofuel blend configurations. While demand for it has remained relatively consistent in recent years (with corn as its major feedstock), demand for biodiesel – and renewable diesel in particular – has grown significantly (with canola as its major feedstock).     With blending mandates progressively increasing across the country, we are likely to see these low-carbon on-road solutions become more accessible to consumers, making #NetZeroNetPossible.