05.17.2024
Uncertainty with 45z tax credit may affect Q1 2025 biofuel contracts
The expiring BTC provides a one dollar per gallon blenders credit up front with an additional 30 to 40 cents of credit to producers on the backend. Crimson...
Neste Records Strong Q3 Sales and “Healthy Sales Margin”
Renewable diesel demand was robust during the third quarter even though feedstock markets continuing to tighten. Neste reported renewable diesel sales volumes increased to 772,000 metric tons (MT) despite the seven-week scheduled maintenance at the Singapore refinery. Maintenance was successfully completed and ahead of schedule.
Renewable diesel sales margins of $679 MT in the third quarter of 2021 remained very high. “We were able to maintain a healthy sales margin as a result of successful sales performance and margin hedging”, according to Neste President and CEO Peter Vanacker. The third quarter 2021 sales margin of $679/MT was slightly below the $744/mt margin achieved during Q3 of 2020, but above Q1 and Q2 of 2021.
Singapore renewables capacity expansion is currently on schedule for start-up by the end of the first quarter 2023. The expansion is planned to…