Marathon Petroleum continues to operate its Martinez renewable diesel facility in the San Francisco Bay area at about half of its nameplate capacity, but it is expected to reach 100% by the end of the year, the company said Tuesday.

"We would expect to continue to operate at 50% for the second quarter, and then somewhere mid-third quarter, we would expect to see our capacity increased to about 75%," Maryann Mannen, Marathon's president, said during a quarterly earnings call.

"We do expect to ramp up to full capacity on Martinez by year-end," she added. In late January, Mannen said that the facility was running at 22,000 b/d, a bit less than half of the nameplate capacity of 48,000 b/d.

In October, Marathon said it expected the Martinez facility to produce at nameplate capacity by the end of 2023.

The facility is a 50-50 joint venture between Marathon, the largest U.S. refinery operator, and Finland-based renewable diesel company Neste Oyj.


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--Reporting by Michael Schneider, mschneider@opisnet.com; Editing by Spencer Kelly, skelly@opisnet.com


(END) Dow Jones Newswires

04-30-24 1425ET