After a speedy startup in 2022, Montana Renewables is bringing 12,000 barrels per day of renewable diesel, SAF and naphtha to the sustainable fuels market. IMAGE: MONTANA RENEWABLES
March 11, 2025
BY Katie Schroeder
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The U.S. Energy Information Administration maintained its 2025 and 2026 forecasts for renewable diesel and “other biofuel” production, which includes SAF, in its latest Short Term Energy Outlook, released May 6.
Neste Corp. released first quarter financial results on April 29, reporting improved renewable fuel demand and increased SAF production. Margins, however, were low and feedstock costs were high.
CVR Energy Inc.’s renewables segment on April 28 reported positive adjusted EBITDA for Q1 2025 despite the expiration of the $1 per gallon blenders tax credit. Renewable diesel production volumes were up for the three-month period.
Phillips 66 released Q1 financial results on April 25, reporting reduced pre-tax earnings for its renewable fuels segment despite increased production volumes. The changing tax credit structure is one factor that impacted earnings.
Valero Energy Corp. released Q1 financial results on April 24, reporting that a tough margin environment negatively impacted the company’s renewable diesel operations during the three-month period. Valero’s ethanol segment was profitable.