11.22.2024
Biodiesel margins rise, but window of opportunity limited
Biodiesel margins continued to rise during the week to Friday November 22. The bean oil/heating oil (BOHO) spread boosted margins by falling to its lowest level since August 27.
**Please note, The Jacobsen will close at 1:00 CT on Wednesday and will not publish a bulletin on Thursday and Friday in observance of the Thanksgiving holiday.**
Over the weekend, a fire erupted and was brought under control at the Martinez Renewable Fuels plant in California, according to online reports from Contra Costa County Health. It was unclear if production at the facility was impacted by the blaze. A public health advisory was issued but lifted for Martinez, Pacheco, Concord and Clyde as a result of the fire.
The Martinez Renewable Fuels Project is part of Martinez Renewables, a 50/50 joint venture between Marathon Petroleum Corporation and Neste Corporation. Earlier this year, the idled refinery was converted to produce an initial capacity of 260 million gallons per year of renewable fuels. The plant is expected to be capable of producing 730 million gallons of renewable fuels per year by the end of 2023.
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