• 3 minutes Will Iron-Air batteries REALLY change things?
  • 7 minutes Natural gas mobility for heavy duty trucks
  • 11 minutes NordStream2
  • 2 hours GREEN NEW DEAL = BLIZZARD OF LIES
  • 4 hours U.S. Presidential Elections Status - Electoral Votes
  • 5 hours Australia sues Neoen for lack of power from its Tesla battery
  • 4 hours Evergrande is going Belly Up.
  • 19 hours Monday 9/13 - "High Natural Gas Prices Today Will Send U.S. Production Soaring Next Year" by Irina Slav
  • 3 days Is China Rising or Falling? Has it Enraged the World and Lost its Way? How is their Economy Doing?
  • 15 hours Oil Price: does the security vacuum in the Middle East spook investors?
  • 1 day Europeans and Americans are beginning to see the results of depending on renewables.
  • 5 days The unexpected loss of output from wind turbines compels UK to turn to an alternative; It's not what you think!
  • 5 days Poland Expands LNG Powered Trucking and Fueling Stations
  • 2 days Forecasts for Natural Gas
  • 4 days Ten Years of Plunging Solar Prices
  • 4 days Extraction of gasoline from crude oil.
UK Could See Gas Prices As High As $1250 Per MWh

UK Could See Gas Prices As High As $1250 Per MWh

The UK’s energy crisis is…

The Natural Gas Crisis Is A Much-Needed Reality Check

The Natural Gas Crisis Is A Much-Needed Reality Check

Natural gas prices are soaring…

Top Oil Refiners Aim To Boost Synthetic Fuel Sales

The biggest refiners in Europe unveiled on Monday a pathway to reduce emissions in the transportation sector by scaling up the production of synthetic fuels to contribute to the European Union’s 2050 climate neutrality goal.

FuelsEurope, the association of the biggest refiners in Europe which includes oil majors ExxonMobil, Phillips 66, Valero, Shell, BP, Eni, Equinor, and Total, among others, believes that synthetic fuels, or the so-called low-carbon liquid fuels (LCLF), could enable the climate neutrality in road transportation by 2050.

LCLF are sustainable fuels from non-petroleum origin with no or very limited carbon dioxide (CO2) emissions during their production and use, FuelsEurope said, as some of its members—such as Shell—have already said that they would look to cut not only emissions from their upstream operations, but also from the products they sell to customers.

The pathway to develop LCLF for road, maritime, and air transport to 2050 would need investments of between US$450 billion (400 billion euro) and US$731 billion (650 billion euro), according to FuelsEurope.

“Major investments, in addition to those already deployed, could start in the next years, with first-of-a-kind plants at industrial scale potentially coming into operation at the latest by 2025,” the association said.

“Complementary to electrification and hydrogen technologies, low carbon liquid fuels will be essential throughout the energy transition and beyond 2050, ensuring security of supply, providing consumer choice and also building Europe’s industrial leadership,” John Cooper, Director General of FuelsEurope, said in a statement.

“In the most ambitious scenario, climate neutrality could be achieved for all remaining liquid fuel in road transport, with a 50% reduction in carbon intensity for EU’s aviation and maritime sectors,” Cooper said.

FuelsEurope acknowledges the fact that decarbonizing the transportation sector will take hundreds of billions of dollars of investment and a lot of collaboration among stakeholders.

“We call on EU policymakers to establish a high-level dialogue with all relevant stakeholders as soon as possible. For the fuels industry’s part, we are ready to take the lead,” Cooper said.  

By Charles Kennedy for Oilprice.com

More Top Reads From Oilprice.com:



Join the discussion | Back to homepage



Leave a comment

Leave a comment

EXXON Mobil -0.35
Open57.81 Trading Vol.6.96M Previous Vol.241.7B
BUY 57.15
Sell 57.00
Oilprice - The No. 1 Source for Oil & Energy News