MARKETS

Exxon betting on mid-20s biofuels demand

EXXONMOBIL is acquiring a 49.9% stake in Norwegian biofuels company Biojet AS as it beefs up its decarbonisation portfolio.

Jonathon Davidson

File photo: Exxon's Malaysia HQ

Biojet specialises in turning biomass—industry speak for wood chips, among other things such as sugar cane husks—into "lower emissions biofuels and biofuel components". Exxon notes that the 49.9% acquisition...

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