Idemitsu sees SAF, ammonia making profit contribution by 2030

In Japan, Reuters reported that Japanese oil refiner Idemitsu Kosan expects cleaner fuels such as ammonia, green pellets and sustainable aviation fuel to contribute to its profits by 2030. “Since it’s not clear when and how demand for new energy will occur, we’ll try social implementation of various low-carbon fuels and then narrow down the targets through repeated screening,” Idemitsu President Shunichi Kito reportedly said. “But we expect blue ammonia, green pellets and SAF will contribute to our profits in 2030 as part of new businesses that are targeted to generate $512 million profit in the year,” he said.

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