Marathon Petroleum’s CEO Mike Hennigan on Tuesday said that the company has a commitment to sustainable energy. He added that Marathon intends to increase its exposure to renewable fuels production while cutting the carbon intensity of its assets. Hennigan also noted that the company would position its conventional refining business for resiliency.
Marathon is working on two major renewable fuel projects. The refiner began production of renewable diesel in its 12,000 bpd plant in Dickinson this quarter. The plant is expected to achieve full operating rates around March 2021. The refiner plans to market the renewable diesel in California which has implemented Low Carbon Fuel Standard.
Marathon has also entered the final engineering stage and awaiting permits to convert its Martinez refinery in California into a renewable diesel plant. The 161,000 bpd refinery was shut in April 2020 because of low fuel demand due to the COVID-19 pandemic. Marathon will upgrade a hydrotreater in the plant to produce renewable diesel. The new unit is expected to produce 17,000 bpd of the biofuel by the second half of 2022 before reaching a full capacity of 48,000 bpd by the end of 2023.
