Major investors, including Dutch pension fund PGGM, have criticized Shell's climate change policy in recent months, saying it should do more to mitigate climate change risks.
The increase did not go far enough for the farm lobby and biofuels companies like Poet LLC, which have spent millions to produce advanced biofuels. Meanwhile, oil industry advocates, who have criticized previous targets as unrealistic, renewed calls for an overhaul of the program.
Tauber Oil will offtake all methanol produced by the Primus Green Energy plant -- utilizing low-cost Marcellus gas feedstock -- to market, sell and distribute into the regional market.
In April, the government raised the amount of ethanol used by motorists by 2 percentage points to 12%. The move boosted the country's sugar industry, which has been battered by low prices.
REG Danville recently purchased the tank complex at the adjacent Bunge Milling facility for $1.5 million. The tanks are being connected to REG Danville’s existing infrastructure and will increase the biorefinery’s storage capacity for feedstock by at least 950,000 gal and biodiesel by up to 12 million gal.
A promising route to obtain bio-gasoil (bioGO) or hydrotreated vegetable oil (HVO) is the catalytic coprocessing of vegetable oil with diesel oil in a conventional hydrotreating unit.
“Across the political spectrum, voters are concerned about the significant damage the RFS mandate and higher ethanol blends could cause to automobiles, motorcycles and almost every type of gasoline powered engine,” said Frank Macchiarola, downstream group director at the API.
The new program, to which UPS is adding $100 million in investment, will fund 12 CNG fueling stations and add 380 CNG heavy duty trucks to the package delivery company's fleet.
AltAir revamped portions of a petroleum refinery in Paramount, California, where it is now producing renewable transportation fuels for commercial and military use.
Competition from cheap oil has added to the pressure on the advanced biofuel industry, which so far has only a non-binding 2020 EU target of 0.5% to guide investment.