Oil companies ready for biofuel obligation that environment groups want stopped

Finnish company Neste expanding its Singapore refinery to increase biofuel production. (Image: Getty)

Fri, 03 Feb 2023

Both Mobil and BP said they will be ready for mandatory biofuel blending next year as environmental groups pleaded for new legislation to be killed off.Parliament’s environment select committee this week heard evidence on the Sustainable Biofuel Obligation Bill, which is due to be passed into law and come into force on April 1 next year.From that date, fuel suppliers will need to reduce the total emissions intensity of ground transport fuel by 2.4%. To achieve that they will need to blend in a calculated volume of liquid biofuels with tra...

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