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USDA: Corn use for fuel ethanol at 442 million bushels in June

August 25, 2022

BY Erin Voegele

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CVR reports profitable Q3 for renewable diesel, continues to evaluate SAF project

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By Erin Voegele

37 minutes ago

OperationsSustainable Aviation FuelsBusiness

CVR Energy Inc. on Oct. 29 announced that the renewable diesel unit at its Wynnewood refinery in Oklahoma processed 19.6 million gallons of vegetable oil feedstock during the third quarter, down from 23.8 million gallons during the same period of 2023.

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Phillips 66 on Oct. 29 reported that its renewable fuels segment was impacted by lower margins during Q3, but company officials expect margins to improve moving forward. The company also reported it began producing SAF in September.

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SAF offers a significant opportunity for growth in the biofuel sector and a new revenue stream for farmers, but realizing that potential will depend on the establishment of favorable policies and adequate incentives, according to CoBank.

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Neste Corp. on Oct. 24 released third quarter financial results, reporting that its renewables segment has been impacted by overcapacity and lower-than-expected voluntary demand for sustainable aviation fuel (SAF).

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Valero Energy Corp. released Q3 financial results on Oct. 24, reporting increased production for both its ethanol and renewable diesel segments. Valero’s SAF project is expected to be fully operational before the end of the year.

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