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Neste pays $1b to create renewable fuels JV with Marathon at Martinez

Mar. 01, 2022 7:02 PM ETCVX, NTOIF, MPCBy: SA News Team11 Comments

Airplane and biofuel tank trailer on the background of airport. New energy sources

Scharfsinn86/iStock via Getty Images

After markets closed Tuesday, Neste (OTCPK:NTOIF) and Marathon (NYSE:MPC) announced a renewable fuels joint venture, whereby the Finnish fuels producer will pay Marathon (MPC) $1b for 50% of its Martinez project. The project is

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Comments (11)

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Either MPC is not very sure that this will be a successful venture; or it knows that it can't do the job like Neste can with is proven track record in this business. Otherwise, why cut in some other company on the future returns.
Shelby500 profile picture
Good move for MPC to offload 50% of the risk and tactfully reduce their investment while being able to claim the green mantra when needed.
730 milligrams per year ;-)
These renewable fuels have been around for decades and have never gone anywhere. I've been watching the chase for ethanol and bio-diesel for decades. Ethanol takes corn away from pork production, I assume other bio-fuel would have similar adverse affect because you have to compete for grain and with modern efficiency there is not that much waste. A dog that is not barking is methane from livestock sewage treatment. Design your pork and dairy farms with a sewage treatment facility to create fertilizer and capture the methane to provide power. And every city should have methane capture in their facilities as well.
@mrbuseco2 But doesn't methane contribute to global warming also?
@aochamp Less so if you capture and burn it. The methane is there regardless, so why waste it? And it is renewable. A quote I saw was methane recycles itself in an 8-year cycle from your fart, to the atmosphere, to CO2 and H20 making the plants grow to you eating the plants and farting again.
@mrbuseco2 so we all need to walk around with tubes up our rear ends?
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