Neste resumes renewable diesel production in Singapore
Finland’s Neste, a global leader in renewable fuels, announced the resumption of renewable diesel production at its expanded Singapore refinery in early August. The production line, which initially started operations in April 2023, faced an unexpected shutdown in June due to equipment repairs.
The company’s expansion in Singapore has effectively doubled its production capacity in the region. With ongoing growth projects in Singapore and Martinez, California, U.S.A., Neste aims to elevate its total renewable products capacity to 5.5 million tons by early 2024.
Neste Corporation and Marathon Petroleum Corporation established a 50-50 joint venture called Martinez Renewables to produce renewable diesel following a conversion project of Marathon’s refinery in Martinez in March 2022. The facility is expected to be capable of producing 2.1 million tons per year by the end of 2023.
The ramp-up of production at the expanded section of the Singapore refinery is on track and is expected to conclude by the end of this year. Additionally, the production of sustainable aviation fuel (SAF) in Singapore is set to commence in the third quarter, as previously reported in Neste’s half-year update in July.
The company transforms waste, residues, and innovative raw materials into renewable fuels and sustainable feedstock for plastics and other materials. As the world’s premier producer of sustainable aviation fuel and renewable diesel, Neste is also pioneering chemical recycling to address the challenge of plastic waste.
The company’s ambition extends beyond production. Neste is determined to help its clientele reduce their greenhouse gas emissions by a minimum of 20 million tons annually by 2030. Furthermore, the company has set its sights on transforming its Porvoo oil refinery in Finland into Europe’s most sustainable refinery by the same year.