INSIGHT: Total, BP lead charge in green strategic shift among global oil majors

Hellenic Shipping News | Oct 17, 2020 at 2:00 AM
  • The company has 7 gigawatts (GW) of solar and wind power generation capacity, and aims to quintuple this to 35GW by 2025 with major solar projects in Europe, the Middle East and India, and offshore wind farm projects in the UK and South Korea.
  • The company plans to convert its Grandpuits refinery in France to produce 400,000 tonnes/year of biofuels starting in 2024, while also adding a plastics recycling facility, a PLA (polylactic acid) bioplastics plant and solar power at the site at a total cost of over €500m.
  • The new biorefinery capacity of around 7,000 bbl/day will be a huge step down from the 100,000 bbl/day capacity of the existing refinery, although it was only operating at about 70% of capacity because of reduced pressure on a crude oil pipeline.