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Japan’s Sojitz invests in US SAF producer Next

  • : Biofuels, Hydrogen
  • 23/05/29

Japanese trading house Sojitz is investing in the US' Next Renewable Fuels, which is targeting to start operating a bio-refinery in early 2026, to enhance its sustainable aviation fuel (SAF) business.

Sojitz declined to disclose the investment details including the value and form of the financing. Sojitz's funding follows a $37.5mn investment in the proposed bio-refinery by United Airlines' venture capital fund, United Airlines Ventures.

Next is building a bio-refinery in Oregon state with output capacity of up to 50,000 b/d of SAF, renewable diesel and other renewable fuels. It plans to produce these renewable fuels from used cooking oil, vegetable oil, animal fat and other materials using hydroprocessed esters and fatty acids technology, which is a process to hydrogenate and deoxygenate oils.

Sojitz plans to set up a SAF supply chain to deliver renewable fuels to Japanese airlines. Sojitz also signed an agreement with Australia's Queensland state-owned CS Energy to study a synthetic SAF value chain. The SAF will be produced from green hydrogen and carbon dioxide in Queensland and exported to Asian countries.

By Nanami Oki

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26/05/14

Japan's Eneos to buy Chevron's fuel, lube subsidiaries

Japan's Eneos to buy Chevron's fuel, lube subsidiaries

Tokyo, 14 May (Argus) — Japanese refiner Eneos plans to buy Chevron's downstream fuel and lubricant subsidiaries in Australia and southeast Asia, the company said today, aiming to tap growing overseas oil product demand while tackling shrinking domestic consumption. Eneos signed a share purchase agreement with Chevron to acquire a all of the shares in each of Chevron's subsidiaries — Chevron Singapore, Chevron Malaysia, Chevron Philippines, Chevron Australia Downstream and Chevron Oil Products Indonesia — for $2.17bn. Eneos and Chevron aim to complete the transactions in 2027. The purchase also includes Chevron's 50pc share in the largely export-based Singapore Refining Company's (SRC) 290,000 b/d refinery. SRC is also part-owned by the Singapore Petroleum Company, a fully owned subsidiary of Petrochina. The move comes against the backdrop of expectations of further oil product demand growth in these countries, compared with that of Japan. Eneos has attempted to improve the competitiveness of its refineries. The company set a goal to raise the operating rates of its refineries to 90pc by the April 2027-March 2028 fiscal year. It also decided to permanently shut one of its ethylene crackers at the Kawasaki refinery by the end of 2027-28 to optimise its petrochemical business. The cracker has an output capacity of 448,000 t/yr. Biofuels The acquisition of significant blending and storage infrastructure in Singapore will also allow Eneos to expand its biofuels trading book, including for marine biodiesel and sustainable aviation fuel (SAF). Chevron has been one of the key suppliers of marine biodiesel in Singapore in recent years, buying used cooking oil methyl ester (Ucome) volumes from China for blending and bunkering in Singapore. Bunkering of biofuel blends in the port hit a yearly high of 1.3mn t in 2025 , up by 25pc on the year. Eneos could also be positioned to blend and supply SAF to Changi airport to meet Singapore's 1pc blending target in jet fuel, which will now start in 2027 , having been pushed back from its original 2026 start date due to the war in the Middle East. The Singapore Sustainable Aviation Fuel Company (SAFCo), a non-profit company wholly owned by Singapore's civil aviation authority, will centrally procure SAF in the country. Sellers must be able to show ability to deliver fuel into Changi — either through membership of the Changi Airport Fuel Hydrant Installation (Cahfi), or by working with a member. Chevron is currently a Cahfi member. Regional storage assets would also enable Eneos to aggregate biofuel and feedstock supplies from throughout Asia before shipping to other regions to meet demand — an important logistical advantage when dealing with dispersed supplies of valuable waste feedstocks like used cooking oil and palm oil mill effluent. This could help cost-effectively source feedstock for Eneos' own biorefinery in Hawaii with Par Pacific and Mitsubishi , which started up in April, or their upcoming biorefinery conversion at former Wakayama refinery — again with Mitsubishi. By Nanami Oki and Lauren Moffitt Send comments and request more information at feedback@argusmedia.com Copyright © 2026. Argus Media group . All rights reserved.

German government approves building modernisation law

26/05/13
26/05/13

German government approves building modernisation law

Hamburg, 13 May (Argus) — Germany's cabinet approved the building modernisation act on 13 May, sending it to parliament for further deliberation, with only minor changes from the original draft. The new act will remove the existing requirement that new heating systems run on at least 65pc renewable energy . Instead, owners will again be able to choose between technologies, including gas and oil boilers, heat pumps, district heating, biomass installations or hybrid systems. The core element of the reform remains the increasing quota for climate-neutral fuels, under which gas and oil boilers must gradually use more renewable or low-carbon energy from 2029. Minimum shares are set at 10pc in 2029, 15pc in 2030, 30pc from 2035 and 60pc from 2040. Most of the changes that were made apply to biomass, with rules on a hierarchy for use of wood scrapped following industry opposition. But a new limit was introduced on use of maize and grain in biogas plants. These feedstocks can now make up no more than 40pc for biogas units that became operational after 31 December 2023. Bioenergy industry representatives broadly welcomed the law, but still see shortcomings. Berlin-based lobby group Hauptstadtburo Bioenergie points to a possible loophole, as the new act applies to heating systems installed after it takes effect. Units added since the previous act took force would face no related obligations, leaving an estimated 900,000 oil and gas boilers to fall through the gap. Industry associations are also seeking annual adjustments to bio-targets, rather than steep jumps years apart, arguing this would support investment security and avoid sharp price movements. Changes around biomethane imports have also come into focus. The current bill does not limit EU imports when producers benefit from subsidy schemes, but industry groups have proposed excluding any biomethane that received significant incentives in its country of origin or which counts towards renewable targets there. Details of the bill are still open to amendment. The lower house of parliament, the Bundestag, will first hold a reading before referring the bill to committees, which usually make the most substantive changes based on expert hearings. After committee discussions, the Bundestag will hold second and third readings, before the upper house, the Bundesrat, takes up the bill. Here, there could be delays, as states and municipalities are responsible for implementing and enforcing the law. Disagreements among states could trigger mediation, further slowing progress. The economy and energy ministry wants the law to take force on 1 July. By Svea Winter Send comments and request more information at feedback@argusmedia.com Copyright © 2026. Argus Media group . All rights reserved.

Kabinett beschließt Gebäudemodernisierungsgesetz

26/05/13
26/05/13

Kabinett beschließt Gebäudemodernisierungsgesetz

Hamburg, 13 May (Argus) — Das Bundeskabinett hat am 13. Mai das Gebäudemodernisierungsgesetz beschlossen und damit in das parlamentarische Verfahren überführt. In der Kabinettsfassung wurden gegenüber dem Referentenentwurf nur punktuelle Anpassungen vorgenommen, im nächsten Schritt wird das Gesetz an den Bundestag und die entsprechenden Ausschüsse weitergeleitet. Das Gebäudemodernisierungsgesetz (GModG) soll das bestehende Gebäudeenergiegesetz (GEG) ablösen und die Vorgabe des GEG, wonach neue Heizungen zu mindestens 65 % mit erneuerbaren Energien betrieben werden müssen, streichen. Stattdessen erhalten Eigentümer wieder eine Wahlfreiheit zwischen Technologien wie Gas- und Ölheizungen, Wärmepumpen, Fernwärme, Biomasseanlagen oder Hybridlösungen. Kern der Neuregelung bleibt die sogenannte "Bio Treppe" : Gas- und Ölheizungen müssen ab 2029 schrittweise steigende Anteile erneuerbarer oder CO2-armer Energieträger einsetzen. Vorgesehen sind Mindestanteile von 10 % ab 2029, 15 % ab 2030, 30 % ab 2035 und 60 % ab 2040. Dieser Mechanismus blieb in der Kabinettsfassung unverändert. Anpassungen gab es vor allem im Bereich der Biomasse. Vorgaben zur Nutzung von Holz entlang einer Nutzungshierarchie wurden gestrichen, nachdem Branchenverbände dagegen protestiert hatten. Neu aufgenommen wurde hingegen eine Begrenzung des Einsatzes von Mais und Getreide in Biogasanlagen: Für Anlagen, die nach dem 31. Dezember 2023 in Betrieb gehen, darf der Anteil dieser Substrate künftig höchstens 40 % der Biomasse betragen, sofern das Biogas zur Erfüllung der Mindestanteile genutzt wird. Die Bioenergiebranche bewertet den Entwurf insgesamt positiv, sieht jedoch weiterhin Kritikpunkte. So verweist das Hauptstadtbüro Bioenergie auf eine potenzielle Regelungslücke: Das GModG gilt nur für Heizungen, die nach Inkrafttreten des Gesetzes installiert werden. Anlagen, die seit Beginn des GEG eingebaut wurden, würden demnach nicht mehr unter entsprechende Verpflichtungen fallen. Betroffen sein könnten laut Branche rund 900.000 Öl- und Gasheizungen. Zudem fordern Verbände eine jährliche Anpassung der Ziele anstatt von wenigen großen Sprüngen bei der Bio-Treppe. Dies soll die Investitionssicherheit gewähren und Preissprünge vorbeugen. Auch werden Anpassungen beim Import von Biomethan gefordert. Derzeit enthält der Entwurf keine Einschränkungen, obwohl Produzenten in anderen EU-Staaten teils von Fördermechanismen profitieren und dadurch Wettbewerbsvorteile haben. Daher wird vorgeschlagen, dass Biomethan, das im Produktionsland bereits eine signifikante Produktionsförderung erhalten hat oder im Herkunftsland bereits auf Erneuerbare-Energien-Ausbauziele angerechnet wurde, nicht auf die Bio-Treppe anrechenbar sein sollte. Mit dem Kabinettsbeschluss ist die politische Richtung vorgegeben, die inhaltliche Ausgestaltung aber noch offen. Der Entwurf geht nun in den Bundestag und wird dort zunächst in erster Lesung beraten, bevor er in die Ausschüsse überwiesen wird. In der Regel findet die entscheidende Ausdifferenzierung in den Fachausschüssen und Anhörungen statt, wo die Kritikpunkte der Branche erneut verhandelt werden könnten. Nach Abschluss der Beratungen folgen zweite und dritte Lesung im Bundestag sowie die Befassung des Bundesrats. Da das Gesetz insbesondere von Ländern und Kommunen getragen und durchgesetzt werden muss, kann es im Bundesrat noch zu Verzögerungen in der Länderkammer kommen. In dem Fall, dass es hier Unstimmigkeiten zwischen den Bundesländern gibt, wäre ein Vermittlungsverfahren wahrscheinlich, dass das Gesetz dann noch verzögern könnte. Das Bundesministerium für Wirtschaft und Energie (BMWE) strebte zuletzt ein Inkrafttreten zum 1. Juli 2026 an. Von Svea Winter Senden Sie Kommentare und fordern Sie weitere Informationen an feedback@argusmedia.com Copyright © 2026. Argus Media group . Alle Rechte vorbehalten.

Railroads blast UP-Norfolk Southern merger plan

26/05/13
26/05/13

Railroads blast UP-Norfolk Southern merger plan

Houston, 13 May (Argus) — Union Pacific (UP) and Norfolk Southern's four Class I competitors urged US federal regulators to once again reject as incomplete the merger proposal to create the first US transcontinental railroad company. UP and Norfolk Southern in December filed their original merger application with US rail regulator the Surface Transportation Board (STB), starting the clock on a multi-year process. It will be the largest merger the STB has ever scrutinized, and the process will likely feature high-profile hearings and congressional scrutiny. The three-member STB in January ruled that the would-be partners' merger application was incomplete, sending it back to UP and Norfolk Southern to fill in key informational gaps. The railroads on 30 April refiled their proposal, which they say reinforces their argument the merger would drive growth, save shipping costs and bolster the US supply chain. UP said its updated analysis shows the merger will shift freight shipments from the roads to the rails, saving shippers an estimated $3.5bn/yr and removing about 2.1mn trucks from the road. However, all of the remaining Class I competitors heaped criticism on the merger application. According to BNSF Railway, UP's western Class I competitor, "the amended merger application makes things worse, not better." The refiled application "largely repackages" the first version while offering only "cosmetic changes to gloss over the serious and fundamental competition, pricing, and service concerns that were previously raised", BNSF said in an 8 May filing with the STB. In its updated analysis, UP said the combined railroad will hold a 39pc market share of US rail freight market, which the railroad says would put it roughly on par with BNSF by certain metrics. BNSF said that UP's actual market share would be considerably higher, a fact that it has downplayed in its application. "UP continues to lowball its projected market shares to the board but signals to Wall Street — the engine behind this proposed merger — that the market shares and pricing power will be even higher," BNSF said, urging the STB to reject the application again as incomplete. Canadian Class I railroads Canadian Pacific Kansas City and Canadian National both filed separate comments urging the STB to reject the application as incomplete, as did eastern US Class I railroad CSX. In response to the filings, UP on 12 May said its updated application "is comprehensive and complete, and provides all the information" that the STB needs, including market share data. The merger would create a single rail network stretching about 55,000 miles, handling about half of US freight traffic. UP and Norfolk Southern say that a coast-to-coast network will speed transit times by 24 to 48 hours and lead to greater efficiency. The two companies expect the transaction to be completed in the first half of 2027. The UP-Norfolk Southern merger will be the first test of STB rules enacted in 2001 requiring Class I railroads to demonstrate that major mergers enhance, rather than merely preserve, competitive shipping options. By Chris Baltimore Send comments and request more information at feedback@argusmedia.com Copyright © 2026. Argus Media group . All rights reserved.

DHL signs 10‑year SAF offtake deal with Bahrain project

26/05/13
26/05/13

DHL signs 10‑year SAF offtake deal with Bahrain project

London, 13 May (Argus) — German logistics firm DHL Express said it has signed its first sustainable aviation fuel (SAF) offtake deal in the Middle East, securing supply from a Bahrain project by Dubai-based developer SAF One from 2028. DHL will take 25,000 t/yr of unblended SAF for 10 years, or 250,000t in total. It will act as an anchor offtaker, providing demand certainty as the project progresses toward construction and start-up from 2028. This commitment marked "an important step" toward bringing the facility on line, said SAF One co-founder and chief executive Deepak Munganahalli. Earlier this year SAF One secured $30mn investment and hired an engineering partner to start building a hydrotreating plant in 2026 at an unnamed Middle East location — now seemingly confirmed as Bahrain. DHL will allocate the SAF globally through a book-and-claim system, enabling its customers to reduce Scope 3 emissions even on routes not directly fuelled with SAF. DHL used 10pc SAF in 2025 from suppliers in Europe, the US, and Asia-Pacific, and has a target of using 30pc SAF by 2030. The firm has scaled SAF through a business-to-business model, where its customers willingly absorb SAF premiums in exchange for emissions reductions. Passenger airlines can struggle to pass higher fuel costs to travellers. By Aidan Lea Send comments and request more information at feedback@argusmedia.com Copyright © 2026. Argus Media group . All rights reserved.

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