HollyFrontier Refinery Re-purposing to Renewable Diesel (Ind. Report)
Dallas-based independent petroleum refiner and marketer HollyFrontier Corporation
reports it will spend between $125 million to $175 million to re-purpose its Cheyenne, Wyoming petroleum refinery to produce roughly 90 million gpy of renewable diesel by Q1, 2022. With the move, the Cheyenne refinery is effectively shedding its Renewable Fuel Standard (RFS) biofuel blending obligation to produce saleable renewable diesel and compliance credits.
"Demand for renewable diesel, as well as other lower carbon fuels, is growing and taking market share based on both consumer preferences and support from substantial federal and state government incentive programs," according to a statement from HollyFrontier CEO Mike Jennings.
(Source: HollyFrontier, PR, Bloomberg, 3 June, 2020)
Contact: HoolyFrontier, Craig Biery, Inv. Relations, 214-954-6510, www.hollyfrontier.com
More Low-Carbon Energy News HollyFrontier, Renewable Diesel, Biouel Blending, RFS,