March 1, 2022
BY Erin Voegele
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Phillips 66 on Oct. 29 reported that its renewable fuels segment was impacted by lower margins during Q3, but company officials expect margins to improve moving forward. The company also reported it began producing SAF in September.
Italian energy company Eni and U.S.-based KKR on Oct. 24 announced an agreement under which KKR will purchase a 25% stake in Eni’s Enilive business, which encompasses the company’s biorefining, biomethane, and smart mobility solutions businesses.
SAF offers a significant opportunity for growth in the biofuel sector and a new revenue stream for farmers, but realizing that potential will depend on the establishment of favorable policies and adequate incentives, according to CoBank.
DHL Express and DHL Global Forwarding are furthering their sustainability goals through a contract renewal with IAG Cargo, the cargo handling division of International Airlines Group, to use an additional 60 million liters of SAF on behalf of DHL.
Neste Corp. on Oct. 24 released third quarter financial results, reporting that its renewables segment has been impacted by overcapacity and lower-than-expected voluntary demand for sustainable aviation fuel (SAF).