Marathon petroleum to convert Martinez refinery to renewable fuels facility. Marathon Petroleum Corporation (NYSE: MPC) has announced that its Board of Directors has approved plans to convert its Martinez, California, refinery into a renewable fuels manufacturing facility.
Converting the Martinez facility from refining petroleum to manufacturing renewable fuels signals MPC’s strong commitment to producing a substantial level of lower carbon-intensity fuels in California.
Michael J. Hennigan, MPC President and CEO said.
Marathon Petroleum is focused on meeting the world’s growing energy needs and reducing its carbon emissions intensity
“Converting the Martinez refinery to a renewable fuels facility is an important addition to our growing portfolio of renewables projects and aligns with our strategic priorities of strengthening the competitive position of our assets, implementing commercial strategy changes and strategically deploying our capital.”
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The Martinez facility is expected to start producing renewable diesel in 2022, with a build to full capacity in 2023. Engineering work is under way and MPC has applied for relevant permits.
At full capacity, MPC expects the Martinez facility to produce about 730 million gallons per year of renewable fuels – predominantly renewable diesel – from such biobased feedstocks as animal fat, soybean oil and corn oil.
Renewable diesel has a significantly lower carbon footprint than petroleum diesel. The Martinez conversion is also consistent with MPC’s companywide commitment to reduce greenhouse gas intensity (emissions per barrel of oil equivalent processed) 30% below 2014 levels by 2030. MPC estimates its conversion of the Martinez facility from petroleum refining to renewable diesel production will reduce the facility’s manufacturing greenhouse gas emissions by 60%, total criteria air pollutants by 70% and water use by 1 billion gallons every year.
✔️ Facility to produce approximately 730 million gallons per year of lower carbon-intensity renewable fuels.
✔️ Significantly lower greenhouse gas emissions, criteria air pollutants, water use compared to petroleum refinery operations.
✔️ Conversion builds on company’s commitment to sustainability and lowering carbon intensity.
Marathon Petroleum to Proceed with Conversion of Martinez Refinery to Renewable Fuels Facility, March 2, 2021
