Marathon: Martinez biorefinery to reach full capacity by year end
Marathon Petroleum Corp. has converted its Martinez refinery in California to renewable fuel production. / SOURCE: Marathon Petroleum Corp.
November 6, 2024
BY Erin Voegele
Marathon Petroleum Corp. on Nov. 5 confirmed the Martinez Renewable Fuels biorefinery in California remains on track to be operating at full nameplate capacity by the end of the year. At full capacity, the facility can produce 730 MMgy.
Marathon officials briefly discussed operations at the Martinez biorefinery during the company’s third quarter earnings call, held Nov. 5 The facility, previously a Marathon oil refinery, was converted to a renewable diesel biorefinery via a 50/50 joint venture (JV) between Marathon and Neste Corp. The JV was announced in 2022.
The Martinez Renewables facility began operations in early 2023. Operations at the facility have been impacted by a fire that occurred in late 2023.
During the earnings call, Marathon CEO Maryann Mannen said the company believes the Martinez biorefinery will be profitable once it is operating at capacity. John Quaid, chief financial officer at Marathon, discussed the upcoming expiration of the biobased diesel tax credit, noting the industry is still awaiting guidance on the 45Z clean fuels production credit, which is scheduled to take effect in 2025. Quaid said the company is preparing for all scenarios and believes that the market will balance out in the longer term.
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Marathon also operates a 180 MMgy renewable diesel facility in Dickinson, North Dakota, but did not provide an update on the operations of that facility during the earnings call.
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