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3 Oil Majors That Bet Big On Renewables

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Big Oil has frequently been chided for merely trying to burnish its green credentials, and so far, it has done little to convince us that it is truly moving forward to greenness. Let this sink in: In 2018, Big Oil spent less than 1% of its combined budget on green energy projects. by Alex Kimani for Oilprice.com.

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Diamond Green Diesel to more than double renewable fuel capacity using second Honeywell Ecofining unit; 675M barrels renewable diesel per year

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Diamond Green Diesel facility in Norco, La., will more than double its annual production of renewable diesel with the completion of a second Honeywell Ecofining process unit with a capacity of 30,000 barrels per day (bpd). Diamond Green Diesel is owned by Valero Energy Corp. and Darling Ingredients Inc., Ecofining unit.

Renewable 397
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Diamond Green Diesel to boost renewable diesel capacity to 1.2B gallons/year; $1.45B expansion project

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Darling and Valero jointly announced that their 50/50 joint venture, Diamond Green Diesel (DGD), has received approval from both companies’ Boards of Directors to proceed with the construction of the renewable diesel production facility to be located at Valero’s Port Arthur, Texas refinery. billion pounds of used cooking oil annually.

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Cepsa to invest €3B in Andalusia to build the largest green hydrogen hub in Europe; additional €2B for renewable power

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Cepsa—the Spain-based multinational oil and gas company—will invest more than €3 billion to establish the Andalusian Green Hydrogen Valley, creating the largest green hydrogen hub in Europe in southern Spain. The company will build two plants with a total capacity of 2 GW to produce green hydrogen.

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Neste studying transitioning Porvoo refinery to a renewable & circular site; ending crude oil refining in mid-2030s

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Building on its capability of proactive transformation, Neste has initiated a strategic study on transitioning its refinery in Porvoo, Finland to non-crude oil refining and into a globally leading renewable and circular solutions site. Neste will also continue to actively study opportunities of green hydrogen at its Porvoo refinery.

Oil 259
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Port of Argentia, Pattern Energy & Argentia Capital reach agreement on renewable energy to green ammonia project

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Nefoundland, Canada) reached a binding agreement on commercial terms with Pattern Renewable Holdings Canada 2 ULC (Pattern Energy) for a planned renewable energy to green fuels project at Argentia. Port of Argentia Inc. Argentia Capital Inc. ACI), the Port’s 50/50 partnership with Torrent Capital Ltd., Port of Argentia Inc.

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Marathon Petroleum, ADM to form soybean oil JV to support renewable diesel production

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MPC) and ADM announced an agreement to form a joint venture for the production of soybean oil to supply rapidly growing demand for renewable diesel fuel. When complete in 2023, the Spiritwood facility will source and process local soybeans and supply the resulting soybean oil exclusively to MPC. Marathon Petroleum Corp.

Oil 334