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12-Mar-2025 12:20 AM

Setback for SAF as bp prioritises financial performance over biofuel

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Energy giant bp announced a "fundamentally reset strategy" in late Feb-2025, outlining its prioritisation of shareholder returns and investment in oil and gas.

While expanding its oil and gas investment to USD10 billion p/a, the company will cut its investment in energy transition businesses by USD5 billion, compared to its previous guidance.

bp is now planning more "disciplined investment" in the energy transition, including "selective investment" in areas such as biofuels. The company stated its investment decisions will be driven by financial returns.

CAPA - Centre for Aviation's new SAF Contracts Database features extensive data on Air bp's sustainable aviation fuel (SAF) supply agreements, including significant deals involving Airbus, ATR, Air Transat, BRA - Braathens Regional Airlines, British Airways, DHL Global Forwarding, LATAM Airlines Group, Neste, NetJets, Pratt & Whitney, Qantas Airways, Rolls-Royce, Swedavia and World Energy.

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