A forward-looking strategy is being implemented by energy conglomerate Bangchak Corporation as it navigates the uncertain future of the oil refinery business, deeply impacted by the global push for electric vehicles. In an endeavour to address this dilemma, the corporation has steered its focus towards the development of biofuel, known as sustainable aviation fuel (SAF), for aircraft, potentially a major source of revenue in the near future.
The significantly eco-friendly nature of this anticipated product is expected to keep the company robust even as the popularity of electric vehicles surges. Governments worldwide are avidly promoting the switch to eco-friendly cars. While this transition would substantially reduce carbon dioxide emissions, it will also impact oil producers and manufacturers of combustion engine cars.
Though some experts…
