Marathon discusses renewables projects during Q3 earnings call
Mike Hennigan, CEO of Marathon Petroleum Corp., provided an update of the company’s renewables fuels initiatives, including it refinery conversion projects and a feedstock joint venture formed with ADM, during a third quarter earnings call held Oct. 2.
Hennigan said the joint venture with ADM will own and operate a soybean processing complex in Spiritwood, North Dakota. The companies previously announced ADM will own 75 percent of the joint venture, with Marathon owning the remaining 25 percent. Once complete in 2023, that complex is expected to produce approximately 600 million pounds of refined soybean oil annually, enough feedstock to produce approximately 75 million gallons of renewable diesel per year. Hennigan said the complex will provide locally advantaged feedstock for the company’s refinery in Dickinson, North Dakota. That 180 MMgy renewable diesel plant began producing at full capacity earlier this year.
Hennigan also noted that development is progressing on a project to convert the company’s refinery in Martinez, California, to renewable diesel production. The environmental impact report for that conversion project was released for public comment in mid-October, he added.
Also in October, sustainable aviation fuel (SAF) produced by Marathon’s wholly owned subsidiary Virent was used to fuel a United Airlines test flight, according to Hennigan. That successful test flight was performed on a 737 for 90 minutes using 100 percent SAF, he added.
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