Marathon Expecting Martinez RD Facility at Full Capacity by Year-End — OPIS

Marathon Petroleum continues to operate its Martinez renewable diesel facility in the San Francisco Bay area at about half of its nameplate capacity, but it is expected to reach 100% by the end of the year, the company said Tuesday.

"We would expect to continue to operate at 50% for the second quarter, and then somewhere mid-third quarter, we would expect to see our capacity increased to about 75%," Maryann Mannen, Marathon's president, said during a quarterly earnings call.

"We do expect to ramp up to full capacity on Martinez by year-end," she added. In late January, Mannen said that the facility was running at 22,000 b/d, a bit less than half of the nameplate capacity of 48,000 b/d.

In October, Marathon said it expected the Martinez facility to produce at nameplate capacity by the end of 2023.

The facility is a 50-50 joint venture between Marathon, the largest U.S. refinery operator, and Finland-based renewable diesel company Neste Oyj.

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--Reporting by Michael Schneider, mschneider@opisnet.com; Editing by Spencer Kelly, skelly@opisnet.com

(END) Dow Jones Newswires

April 30, 2024 14:25 ET (18:25 GMT)

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