Phillips 66 has purchased a minority stake ownership interest in Shell Rock Soy Processing (SRSP). This a plant is currently beginning construction and expected to be running by late 2022. Once operational, SRSP will crush 38.5 million bushels of soybeans a year. This will provide 850,000 tons of soybean meal and 1.5 million barrels of soybean oil.
Phillips 66 has an agreement to purchase 100 percent of the plant’s soybean oil production, which will be used to make renewable diesel. Last year, P66 unveiled plans to convert the San Francisco Refinery’s Rodeo facility into the world’s largest renewable fuels plant. The project will reconfigure Rodeo to produce about 780 million gallons per year of renewable diesel, renewable gasoline and sustainable jet fuel. The facility could be fully operational in 2024.
In the near-term, Rodeo already is…
05.03.2024
Biodiesel imports fall to 8-month low in March; exports rise to 3-month high
Biodiesel imported into the US fell in March for the first time in four months while biodiesel exported from the US reached a three-month high.
Import demand from...
05.03.2024
BFT, soybean oil weekly average prices tumble
For the week to Friday, prices were broadly lower compared with the prior week’s average. Packer bleachable fancy tallow was down by 2.2% from the prior week’s average on...
05.03.2024
US animal protein prices remain under pressure; soymeal rises
US animal protein prices were mixed in the week to Friday May 3 but showed no large movements, with multiple market participants traveling for the Petfood Forum in Kansas...