05.17.2024
Uncertainty with 45z tax credit may affect Q1 2025 biofuel contracts
The expiring BTC provides a one dollar per gallon blenders credit up front with an additional 30 to 40 cents of credit to producers on the backend. Crimson...
Preem, Sweden’s largest fuel company with a refining capacity of over 4.7 billion gallons of crude annually, announced plans to convert its Lysekil refinery to produce sustainable aviation fuel (SAF) and renewable diesel. Preem has two refineries in Sweden, Preemraff Göteborg in Gothenburg and Preemraff Lysekil outside of Lysekil.
Preem’s conversion involves reconstruction of the IsoCracker plant (ICR) at the refinery in Lysekeil, which is currently used for diesel production. Following the conversion, the plant will shift focus to producing SAF and renewable diesel.
Preem is increasing its production of renewable fuels and has a goal of producing over 1.3 billion gallons of low-carbon fuel by 2035. The Lysekil refinery conversion is scheduled to begin in 2024 with an anticipated completion date in 2027.
Daily Charts
…