EIA: Renewable Diesel Production to Expand By 30% Annually in 2024, 2025
02.07.2024 By Tank Terminals - NEWS

February 07, 2024 [Biomass Magazine]- The U.S. Energy Information Administration currently expects renewable diesel production to increase by approximately 30% annually in both 2024 and 2025, according to the agency’s latest Short-Term Energy Outlook, released Feb. 6.


The EIA currently predicts renewable diesel production will average approximately 230,000 barrels per day in 2024, expanding to 290,000 barrels per day in 2025, according to the STEO. Production averaged approximately 200,000 barrels per day at the end of 2023.

In the STEO, the EIA also announced it is reducing its U.S. crude oil refining capacity forecast by 120,000 barrels per day beginning in March 2024 following reports that Phillips 66 plans to permanently stop processing crude oil at its Rodeo refinery in California next month. According to the EIA, the Rodeo facility previously produced approximately 60,000 barrels per day of distillate fuel and 65,000 barrels per day of motor gasoline. Phillips 66 is converting the facility to produce renewable diesel. Once that project is complete, the Rodeo biorefinery is expected to have the capacity to produce approximately 50,000 barrels per day of renewable diesel.


Free Trial: Access 13,300 Tank Terminal and Production Facilities

13,300 tank storage and production facilities as per the date of this article. Click on the button and register to get instant access to actionable tank storage industry data

FERC to Decide on Venture Global Building Permit Extension by April
02.23.2024 - NEWS
February 23, 2024 [Oil Price]- The Federal Energy Regulatory Commission will try to be quick in d... Read More
Shell's LNG Trading Makes $2.4 Billion in Final 2023 Quarter, Sources Say
02.23.2024 - NEWS
February 23, 2024 [Reuters]- Nearly a third of Shell’s (SHEL.L), opens new tab profit in th... Read More
Europe, Africa Oil Markets Tighten, Lending Support to Futures
02.23.2024 - NEWS
February 23, 2024 [Reuters]- Red Sea shipping delays and OPEC+ supply cuts are tightening physica... Read More
Concluded Joint Development Agreement for Production of Sustainable Aviation Fuel (SAF) from Woody Biomass in the US
02.23.2024 - NEWS
February 23, 2024 [Sumitomo Corporation]- Sumitomo Corporation, through Sumitomo Corporation of A... Read More