09:41 AM EDT, 04/08/2025 (MT Newswires) -- BP (BP) is putting on hold a project to expand biofuel production at its oil refinery in Castellon, Spain, Bloomberg reported Tuesday, citing a person familiar with the matter.

The source told Bloomberg that the British oil and gas giant paused production at the site because of lower-than-expected growth in the biofuels market.

Sustainable aviation fuel had been part of a 2 billion-euro ($2.2 billion) decarbonization plan at the site, according to the report.

BP did not immediately respond to a request for comment from MT Newswires.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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