Oil majors in Europe investing more in biofuels

Europe’s oil majors are investing eight times more in biofuels than in hydrogen, according to a new study on behalf of the Brussels-based NGO Transport & Environment (T&E). Around 75% of the European refining sector’s €39bn ($42.23bn) of planned investments in alternative fuels up to 2030 will go towards increasing biofuels production, states the report.

Oil refiners in Europe bet big on biofuels

Europe’s oil majors’ ‘big bet’ on hydrogen as the transport fuel for the future is not so big in reality, according to a new study on behalf of Transport & Environment (T&E), which shows that investments in biofuels refining are eight times bigger. T&E accuses oil producers of not being serious about investing in genuinely