Ultimate and proximate analyses and thermal degradation of bio-oils from pinewood and palm empty fruit bunches (PEFB) were carried out to evaluate the oils' potential for production of fuels for transport, heat and power generation, and of hydrogen via the calculation of performance indicators. The pinewood and PEFB oils indicated good theoretical hydrogen yields of 13.7 and 15.9 wt.% via steam reforming, but their hydrogen to carbon effective ratios were close to zero, and their propensity for fouling and slagging heat exchanger surfaces via combustion was high. Both oils exhibited two phases during mass loss under nitrogen flow at heating rates of 3-9 K min(-1). but the kinetics of their thermal degradation from TGA-FTIR analysis indicated different degradation mechanisms that were well reproduced by a nth order reaction model for pinewood and Jander's 3D-diffusion model for PEFB. These findings lead to recommendations on pretreatments prior to the oils' utilisation. (C) 2012 Elsevier Ltd. All rights reserved.