Vertex has entered into a definitive agreement to acquire 100 percent of the Mobile, Alabama refinery from Royal Dutch Shell Plc for approximately $75 million. The transaction is expected to transform Vertex into a leading independent refiner of both renewable and conventional products and supports their low-carbon energy transition strategy. An additional $85 million capital project is planned to build out a renewable diesel facility.
The transaction is expected to close in Q4 of 2021 with Vertex to retain Mobile refinery employees. The $85 million renewable diesel buildout is expected to result in incremental production of 10,000 bpd of renewable fuels by year-end 2022, increasing to 14,000 bpd by mid-year 2023.
It is expected to take nine months to modify the hydrocracker for renewable diesel production. The unit will…
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Singapore Airlines Group orders SAF from Neste ahead of mandate
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SIA...
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Animal fats prices to US Gulf jump on growing demand
Choice white grease prices went up in FOB markets on Tuesday, with trading done in a range of 37.5-39.5 cents per lb FOB Missouri River. Prices were boosted by...
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Feathermeal, ruminant bloodmeal prices lower; March IE MM well above 3-year average
US domestic feathermeal prices were lower in all six regions on Tuesday May 7, with reports of buyer pushback due to excess inventory levels in the market.
Fastmarkets...