bp pauses SAF expansion at Spanish refinery allegedly due to weak market demand

In Spain, Bloomberg reports that bp has taken the decision to pause investment in sustainable aviation fuel production expansion at its Castellon oil refinery, a project that was announced part of a wider $2.2 billion decarbonization plan back in 2023. A source told Bloomberg that the decision was taken because the SAF market wasn’t growing as quickly as expected. bp already announced in February that it planned to significantly cut investments in renewables while focusing investment on oil and gas.