Australian SAF project by Oceania Biofuels scrapped

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Australian firm Oceania Biofuels has reportedly scrapped its AU$500m biofuels planned in Queensland, according to reports.

The company has taken down its website and withdrew the project from the government’s Environment Protection and Biodiversity Conservation (EPBC) process on July 12.

The project was launched in 2022 with a lot of fanfare with the Queensland government hailing it as a “great boost for the local community.”

The construction work on the project was set to begin in 2023 with production expected to start from 2025. The planned site was announced to have a production capacity of 350m litres of renewable diesel and SAF.

During the last couple of months, multiple SAF projects have been shut down around the world. In May, Fulcrum BioEnergy shut down its plant owing to technical difficulties. Meanwhile, oil majors BP and Shell also shut down their planned SAF projects amid a renewed focus on increasing shareholder returns and profitability.

However, there are multiple SAF projects under development across Australia. These include Northern Oils’ advanced biofuels plant at Yarwun in Queensland. In addition, Ampol and ENEOS are developing feasibility on an SAF plant in Brisbane.

Moreover, oil major BP has also announced biofuels refining capacity at Kwinana in Western Australia scheduled to begin SAF and biodiesel production from 2026.

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