Marathon Petroleum Corp & ADM Announce Closing of Feedstock Partnership

Source: 12/14/2021, Location: North America

Marathon Petroleum Corp. (MPC) and ADM (ADM) announced the closing of their joint venture to produce soybean oil to supply the rapidly growing demand for renewable diesel fuel. The joint venture, which is named Green Bison Soy Processing, LLC, will own and operate a soybean processing complex in Spiritwood, North Dakota, with ADM owning 75% of the joint venture and MPC owning 25%, as previously announced in August.

Expected to be complete in 2023, the $350 million Spiritwood facility will source and process local soybeans and supply the resulting soybean oil exclusively to MPC. The Spiritwood complex is expected to produce approximately 600 million pounds of refined soybean oil annually, enough feedstock for approximately 75 million gallons of renewable diesel per year.

United States >>  5/18/2022 - Worley announced today that it has been awarded a three-year engineering and procurement (EP) services contract by Shell Offshore Inc. (Shell) to sup...

Gulf Oil and Gas
Copyright 2021 Universal Solutions All rights reserved. - Terms of Service - Privacy Policy.