Europe’s integrated oil firms are leveraging their existing refinery capacity and extensive network of airline customers to corner the region’s emerging market for sustainable aviation fuel (SAF). Finland’s Neste is already one of the world’s leading SAF producers. Europe’s other national champions, like Spanish Repsol and Italy’s Eni, are now seeing to meet mandated SAF volumes at EU and UK airports. Most have hung on to their refineries in Europe and are now well placed to take advantage of new higher SAF coprocessing limits or add comparatively cheap Hefa units. They are set to fill the gap left by European majors Shell and BP, who have already sold off most of their refining assets in Europe and have canceled any stand-alone SAF projects. But they face stiff competition from indepfinishent trading firms.
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