ExxonMobil looking for new inroads into biofuels

news item image
ExxonMobil is recruiting a biofuel and ethanol trader in North America as part of its efforts to develop lower emission fuels.
The largest US oil producer plans to invest $15 billion (€14 billion) over six years to lower its greenhouse gas emissions including through biofuels, the company said in a social media post.
Demand for renewable fuels and carbon credits is rising as buyers transition to a lower-emission market.
The position will be responsible for developing and capturing commercial and derivative trading opportunities supported by production and supply chain footprint in the US and Canadian markets, Exxon said in a LinkedIn posting.
In the role, the trader will work with suppliers and customers to manage risk across the value chain, including feedstocks, biofuels, and renewable credit markets, the posting said.
"Our investment in biofuels builds on ExxonMobil’s continuing efforts to develop and deploy lower-emission energy solutions," spokesperson Todd Spitler revealed to Reuters.
Exxon has made a push into developing biofuels at its Strathcona, Edmonton, Canada oil refinery and agreed this year to acquire a stake in Biojet, a Norwegian biofuels company.