Eni, PBF Energy announce closure of US HVO 50-50 partnership
Alexandra Chapman
US refiner PBF Energy and Italian energy major Eni have announced the closure of their 50-50 joint venture renewable diesel partnership, the companies revealed this week.
The news comes several months after Eni confirmed in February that it had paid $835m for a 50% stake in the Saint Bernard Renewables (SBR) facility after previously mentioning that it had wanted to build an HVO biorefinery in the US.
The two firms, which were developing the 1.1 million metric tonne (mt) renewable diesel (RD) Saint Bernard Renewable (SBR) production unit project said on Wednesday that the closure would allow them to effectively create a dedicated joint venture to develop the Louisiana biofuels plant.
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