Philips 66 announced plans today to convert their Rodeo, CA refinery to a renewable fuel production facility. The news release published today stated that the converted refinery would have an annual production capacity of 680 million gallons of renewable diesel, jet fuel and gasoline and combined with an existing project, the total production capacity would exceed 800 million gallons. The report also stated that P66 intends to use low CI feedstocks as well as soybean oil in the renewable fuel production. Based on Jacobsen assumptions, a fuel plant with a capacity of 800 million gallons would demand well over 6 billion pounds of feedstock per year. The P66 announcement adds to a rapidly growing list of major refiners with renewable projects underway, or already completed.
Choice white grease moved higher out of the Missouri River market this afternoon with trading done at 21.5 – 23 FOB. Distillers corn oil trading moved higher as well…
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.
11.22.2024
Gulf prices average higher despite weeklong declines in SBO
For the week ended Friday November 22, packer bleachable fancy tallow (BFT) remained unchanged from the previous week’s average, while Gulf Coast-delivered tallow rose 2.7%, primarily...
11.22.2024
Bloodmeal largest price mover week on week; November cattle on feed higher
US animal protein prices were mixed to mostly higher for the week to Friday November 22, with only meat and bonemeal showing a slight price reduction due to tighter...