Biodiesel, from oils/fats, is produced via transesterifi - cation. Renewable diesel (hydrotreated vegetable oil) is chemically similar to petroleum diesel, produced via hydro- treating with hydrogen. SAF, for jet engines, comes from diverse feedstocks like oils, algae, or waste. Drivers for biofuel adoption include urgent GHG reduc- tion, supportive policies (mandates, tax incentives), energy security, and corporate sustainability targets. The global biodiesel market is projected to reach $48.29 billion by 2030 (4.52% CAGR); renewable diesel and SAF markets also anticipate significant growth due to demand for low-emis - sion substitutes and increasing air traffic/regulations. Refineries can adapt by utilising or adding hydrotreat - ing units. This diversification reduces the carbon footprint, leverages growing biofuel markets, and ensures refinery viability. Commercial technologies are well-established (for example, Air Liquide for biodiesel; Axens, Neste, Honeywell UOP for renewable diesel; Fulcrum BioEnergy, LanzaJet for SAF). Future trends emphasise biomass/lipid conversion, co-processing with petroleum feeds, and bio-oil conversion. Refiners globally are rapidly increasing investments. A November 2024 Rystad Energy report highlighted that six major oil and gas companies (bp, Chevron, Eni, ExxonMobil, Shell, TotalEnergies) alone plan 43 biofuel projects (oper- ational or by 2030), adding 260 K b/d capacity, with 31 being new greenfield developments. Despite this, biofuel production faces significant profita - bility hurdles and market volatility. While hydroprocessing dominates, and feedstock diversification, advanced cata - lysts, and co-processing are key, economic realities are com- plex. Late 2024 and early 2025 reports indicate squeezed margins due to oversupply (for example, increased Chinese biodiesel imports into Europe) and weaker demand (for example, Sweden’s reduced biofuel mandate), making some planned projects less attractive. Technological advancements focus on sustainable and efficient biofuel production. Hydroprocessing remains dominant for renewable diesel and SAF, focusing on feed- stock diversification (especially waste streams), advanced catalysts, and co-processing. Bio-oil upgrading from pyrol- ysis/HTL is gaining traction. While decarbonisation remains a powerful catalyst, commercial viability faces scrutiny against fluctuating prices, feedstock availability, and evolv - ing policy landscapes, demanding a cautious and strategic expansion approach. Electrofuels (e-fuels) or synthetic fuels E-fuels (synthetic fuels) are vital for achieving net-zero emissions, especially in hard-to-electrify sectors like avia- tion, shipping, and heavy-duty trucking. These sustainable alternatives (such as e-methanol, e-diesel, e-jet fuel) are pro- duced by converting CO 2 and water into hydrocarbons using renewable electricity via electrolysis and chemical synthesis. A key advantage is their potential carbon neutrality. E-fuels are synthesised from green hydrogen (produced by renewable electrolysis) and captured CO 2 . While burning e-fuels emits CO 2 , this is offset by the CO 2 captured during production. They also significantly reduce particulate mat - ter and nitrogen oxides, improving air quality.
manufacturers (OEMs), technology providers, and waste man- agement companies for robust, sustainable supply chains. Anode coke, graphite, and needle coke The energy transition offers a strategic opportunity for refineries in anode coke, graphite, and needle coke produc - tion. These materials are vital for lithium-ion batteries (LiBs) in EVs and energy storage, and for graphite electrodes in steelmaking’s electric arc furnaces (EAFs), given their lower energy consumption and emissions. Refiners are advised to consider integrating this production, assessing market drivers, technology, profitability, and sustainability. The needle coke market is projected to grow from $3.05 billion (2023) to $6.58 billion by 2033. The LiB segment is forecast as the fastest-growing application (CAGR ~22% from 2024-2029), driven by EV adoption. Asia-Pacific, especially China, is a key market due to expanding EV man- ufacturing. Refineries can leverage existing delayed coking units to produce needle coke, diversifying portfolios and enhancing profitability. Key technological developments focus on enhancing quality and purity for anode applications, aiming for ultra- high purity needle coke via precise coking control and advanced post-treatment. Green graphitisation technolo- gies, like electro-thermal purification, produce high-purity battery anode materials (BAM) with reduced emissions. Additives are improving coke-pitch compatibility. Feedstock diversification beyond petroleum residues to bio-based feedstocks (such as pyrolysis biocrude) is crucial. Innovations include ‘green needle coke’ (GNC) using bio- pitch and biochar fines. AI, digital twins, and robotics are optimising process efficiency and control. Carbon reduction technologies are gaining traction, with investments in low-emission processes and CCUS. A signif- icant breakthrough is catalytic graphitisation, which trans- forms low-grade petroleum coke into high-purity synthetic graphite at lower temperatures and shorter times using iron-based catalysts, drastically cutting costs and emis- sions while bolstering domestic graphite supply for LiBs. Companies like Phillips 66 refineries (Humber in the UK, Lake Charles in the US) are producing ‘specialty coke’ for synthetic graphite anodes. Gazprom Neft plans needle coke production at its Omsk Refinery in Russia by 2024. Westport Trading Europe Limited (WTL) proposes a new needle coke and graphite electrode project in Turkmenistan. In January 2025, Chevron Lummus Global announced a licensing agreement with Saudi Arabia’s TAQAT for needle coke. Indian Oil Corporation plans a $171.2 million needle coke facility at its Paradip Refinery. These advancements are collectively reshaping the anode coke/graphite and needle coke industries to meet escalating demands while minimising environmental impact. Biodiesel, renewable diesel, and SAF The energy transition makes sustainable transport fuels essential. Biodiesel, renewable diesel, and SAF offer path- ways to reduce transportation greenhouse gas (GHG) emissions. Refineries may integrate their production, con - sidering market, technology, profitability, and sustainability.
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PTQ Q4 2025
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