Chevron and Bunge Join Forces on Renewable Diesel Feedstock Supply

The renewable diesel capacity push is creating new ties between the agriculture and oil industries as oil companies are quickly moving in to create renewable diesel and renewable jet fuel.  Phillips 66 was the first to announce taking a minority stake in a new soybean -processing plant in Iowa. 

The plant, which is pending state and local approvals, is expected to crush 110,000 bushels of soybeans per day, generating 2,420 tons of soybean meal and 1.3 million pounds of soybean oil.  Phillips 66 has an agreement to purchase 100 percent of the plant’s soybean oil production that will be used to make renewable fuels.

Phillips 66 announced plans last year that it was converting its Rodeo Refinery into one of the world’s largest renewable fuels facilities, with expected capacity to reach over 750 million gallons per year. The plant is expected to produce renewable…