(Bloomberg) -- Spain’s Cepsa said it could curb spending on green hydrogen projects, the third European oil refiner this week to review its plans on the technology needed to cut emissions.
Spain is considering changes in taxation that prompted Repsol SA this week to shelve its green hydrogen projects for now.
“Cepsa is evaluating the fiscal impact of possible approval of a new permanent tax in Spain,” the company said in an email, when asked about Repsol’s decision. If the tax is approved, Cepsa will “slow the green hydrogen investments it had planned in Spain and prioritize its international expansion with projects that had initially been planned for the second phase of its transition strategy.”
Finnish oil-processor Neste Oyj said on Thursday it’s putting a green hydrogen project at its Porvoo refinery on hold. Legislation doesn’t currently support the investment, it said.
--With assistance from Alex Longley.
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