Markets

Governments across Asia-Pacific and Latin America are accelerating biofuel mandates as spiking oil prices strain economies and government finances.

As discussed in the insights on Aug. 3, the escalation of Middle Eastern conflict—marked by US military operations against Iran and shipping disruptions through the Strait of Hormuz—has ignited a global oil price shock that is fundamentally reshaping the transportation fuel industry, leading to rapid growth of electric vehicles (EVs). Meanwhile, rising geopolitical instability, coupled with stringent global decarbonization mandates, has simultaneously accelerated global biofuel demand for supply security and climate goals. 

Global refining is undergoing a massive structural overhaul as strict decarbonization laws, such as Europe’s RefuelEU mandate (scaling from 2% SAF in 2025 to 70% by 2050), clash with fragmented supply chains.

The Brazilian state-owned energy company has approved a $1.2B final investment decision (FID) to build a dedicated biorefining plant at its 170K b/d Presidente Bernardes (RPBC) refinery in Cubatão, São Paulo.

As traditional crude oil prices fluctuated, major global economies—including Malaysia, Indonesia, Brazil, Japan, and Australia—accelerated their transition toward advanced biofuels to secure sustainable alternatives for the aviation and maritime sectors.

As the ongoing Middle East conflict disrupts global energy markets, major economies are aggressively pivoting toward higher biofuel mandates to mitigate fossil fuel volatility.

As the Middle East conflict enters its second month, the European Union faces a critical financial and logistical hurdle: a monthly fossil fuel import bill that has ballooned by $16.24 B.

The global biofuels and waste feedstock markets are undergoing a massive structural shift as of Jan. 2026.

As 2026 commences, the global biofeedstock market is undergoing a profound structural realignment driven by restrictive US trade and tax policies.

The global biofuels market is entering a phase of structural tightening as Northwest European hydrotreated vegetable oil (HVO) and sustainable aviation fuel (SAF) sectors brace for aggressive 2026 blending targets.