TotalEnergies signed a heads of agreement with China Petroleum and Chemical Corp. (Sinopec) to jointly develop a sustainable aviation fuel (SAF) production unit at a Sinopec refinery in China, TotalEnergies announced March 26.
The unit will have the capacity to produce 230,000 tons of SAF per year and will process local waste or residues from the circular economy, such as cooking oils and animal fats, TotalEnergies said.
TotalEnergies set a target of 1.5 MMton of annual SAF production by 2030.
“The development of sustainable aviation fuels is at the heart of our company's transition strategy as we strive to meet the aviation industry's demand to reduce its carbon footprint,” said Patrick Pouyanné, chairman and CEO of TotalEnergies.
Recommended Reading
Baker Hughes Awarded Saudi Pipeline Technology Contract
2024-04-23 - Baker Hughes will supply centrifugal compressors for Saudi Arabia’s new pipeline system, which aims to increase gas distribution across the kingdom and reduce carbon emissions
BP Restructures, Reduces Executive Team to 10
2024-04-18 - BP said the organizational changes will reduce duplication and reporting line complexity.
OFS Sector Loses Jobs, but Trade Org Says Growth Potential Remains
2024-05-08 - According to analysis by the Energy Workforce & Technology Council, the OFS job market may still have potential for growth despite a slight decrease in the sector in April.
Dividends Declared in the Week of May 6
2024-05-10 - Here is a selection of upstream, midstream and service and supply companies’ dividends declared in the past week.
M4E Lithium Closes Funding for Brazilian Lithium Exploration
2024-03-15 - M4E’s financing package includes an equity investment, a royalty purchase and an option for a strategic offtake agreement.