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    Dubai To Reduce Its Carbon Emissions By 6.5mn Tonnes A Year

    Transportation Oil & Gas Congress (TOGC 2024): The roles of pipelines in energy transition

    Transportation Oil & Gas Congress (TOGC 2024): The roles of pipelines in energy transition

    Saipem New Onshore E&C contracts

    Saipem scores $1.9 billion contract wins offshore Guyana and Brazil

    Five EU countries strengthen carbon capture and storage bonds with new declaration, paving the way for Europes CCUS market

    Five EU countries strengthen carbon capture and storage bonds with new declaration, paving the way for Europes CCUS market

    OPEC to participate in upcoming UN Climate Change Conference in Dubai and host a special pavilion

    OPEC to participate in upcoming UN Climate Change Conference in Dubai and host a special pavilion

    AD Ports expands shipping operations in Kazakhstan with tanker pair

    AD Ports expands shipping operations in Kazakhstan with tanker pair

    Arabian Pipes Co wins $42.6m supply contract from Saudi Aramco

    Viking CCS project gets green light for onshore CO2 transportation pipeline

    Saipem New Onshore E&C contracts

    Saipem awarded two offshore contracts worth approximately 1.9 billion USD

    Saudi Aramco recognized as a leader in the Fourth Industrial Revolution

    Aramco produces first unconventional tight gas at South Ghawar

  • Projects
    UN Condemns Energy Giants For Ignoring Science of All Things

    Global oil and gas projects pipeline at US$4 trn

    BP begins gas production at West Nile Delta project

    BP begins gas production at West Nile Delta project

    Bechtel and Cheniere Deliver LNG Ahead of Schedule on US Gulf Coast

    Bechtel and Cheniere Deliver LNG Ahead of Schedule on US Gulf Coast

    ABB wins $79m order for Bab onshore project in Abu Dhabi

    Phillips 66 and Bridger Pipeline LLC Announce Open Season for Rockies and Bakken Crude Oil Pipeline System

    Phillips 66 and Bridger Pipeline LLC Announce Open Season for Rockies and Bakken Crude Oil Pipeline System

    BHP successful in bids for blocks in the offshore Orphan Basin in Eastern Canada

    Operational excellence and safety continue to be a key driver in oil and gas sector

    Gazprom plans to carry forward cost efficient in 2018

    TGS announces new seismic project in the Anadarko basin

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    OGA 2017 Post Show Report

    US Polyethylene Export Market Report 2017-2020

    US Polyethylene Export Market Report 2017-2020

    Embedded SSD Flash Management

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    Efficiency, Visibility and Reliability Keys to lower costs and greater profitability in oil and gas operations

    Don’t Miss the Unconventional Resource Revolution’s Next Wave

    Better Safety, Better Business: Maintain Compliance and Drive Revenue: Put All of Your Data to Work

    Breaking the Application Barrier: Why Data is the Most Valuable Asset in the Oil and Gas Industry

    Drilling Optimization Through Advanced Analytics Using Historical and Real-Time Data

  • Press Releases
    DNV approves F550 TMCP toughcore for LCO2 transport and storage

    DNV approves F550 TMCP toughcore for LCO2 transport and storage

    CNPC puts into operation of its new production lines for surgical masks

    ConocoPhillips puts plans into play to undertake multiple seabed surveys and offshore drilling ops

    bp's Archaea Energy achieves major milestone, brings online first of its kind renewable natural gas plant

    bp’s Archaea Energy achieves major milestone, brings online first of its kind renewable natural gas plant

    Eni and UK outline key terms for CO2 transport and storage at HyNet North West

    Eni and UK outline key terms for CO2 transport and storage at HyNet North West

    Wintershall Dea expands Algerian presence by increasing interest in major natural gas project

    Wintershall Dea expands Algerian presence by increasing interest in major natural gas project

    QatarEnergy signs long-term LNG supply deal with TotalEnergies

    QatarEnergy signs long-term LNG supply deal with TotalEnergies

    Europe's largest green hydrogen plant showcased at Dubai Expo on Spain Day

    Exxon, Amazon awarded slice of $7 billion federal funding for U.S. hydrogen projects

    Angolan exploration and production to drive Africa cumulative capital expenditure

    Kolibri wells in Oklahoma’s Tishomingo field producing over 600 boed

    Ducab Group secured 30 major contracts in oil and gas sector in 2023

    Ducab Group secured 30 major contracts in oil and gas sector in 2023

  • Market Reports
    Ducab Group secured 30 major contracts in oil and gas sector in 2023

    NOG expands Permian presence, enters Ohio Utica shale with $170 million acquisitions

    Saudi Aramco to acquire Shell’s share of the SASREF refining joint venture

    Aramco to enter global LNG business by acquiring stake in MidOcean Energy

    CNOOC Limited Announces Caofeidian 11-1/11-6 Oilfield Comprehensive Adjustment Project Commences Production

    Vital Energy acquires oil production assets in Permian basin for $128 million

    INPEX sells Eagle Ford tight oil production and development assets to Repsol

    Matador Resources acquires Delaware basin assets for $1.6 billion

    Funding For Oil And Gas Industry Is Evolving Dramatically

    Marathon Oil Completes Eagle Ford Acquisition

    Neptune Energy producing natural gas from Merakes project in Indonesia

    Fresh Gas Supply Need Is Created By Australian Energy Crisis

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Marathon Petroleum and Neste form JV for renewable fuels project in US

venkat by venkat
September 24, 2022
in Downstream, News
0
Cheniere announces substantial completion of Train 6 at the Sabine Pass Liquefaction Project

US-based Marathon Petroleum and Finnish oil refiner Neste have finalised a transaction to become equal partners in Marathon’s Martinez Renewable Fuels project in California, US.

The two companies now hold equal shares in the joint venture (JV), called Martinez Renewables, to convert the Martinez refinery to produce renewable fuels. Operations were discontinued at the refinery in 2020.

Neste is expected to contribute a total of $1bn for the project, including half of the full project development costs estimated through the completion of the project.

Marathon will be responsible for managing the completion of the project, as well as operation of the facility upon completion.

Marathon president and CEO Michael Hennigan said: “This transaction reflects MPC’s commitment to provide low carbon-intensity feedstocks to support California’s Low Carbon Fuel Standard goals.

“This strategic partnership also creates a platform for additional collaboration within renewables.”

The first phase of the facility is planned to be mechanically complete by end of this year and have an initial production capacity of 260 million gallons per year of renewable fuels.

The JV plans to start pre-treatment capabilities at the plant in the second half of 2023. The facility is expected to have a production capacity of 730 million gallons per year by the end of the same year.

Neste president and CEO Matti Lehmus said: “The partnership strengthens our footprint in the United States, with a renewable diesel production facility in the growing California market.

“This positions Neste as a global producer of renewable diesel, sustainable aviation fuel, and renewable feedstock for polymers and chemicals, with production operations in Asia, Europe, and North America.”

 

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