Latest news with #renewablediesel
Independent Singapore
3 days ago
- Business
- Independent Singapore
PETRONAS, ENI, and Euglena to develop biofuel refinery in Johor for sustainable aviation fuel and renewable diesel
Photo: Facebook / Lee Ting Han MALAYSIA: PETRONAS is set to take another big step in Pengerang, Johor — this time teaming up with Italy's ENI and Japan's Euglena to build a biofuel refinery that will produce Sustainable Aviation Fuel (SAF) and renewable diesel (HVO). The news came from Johor State Executive Council Member Lee Ting Han, who shared the update in a translated Facebook post. Lee called PETRONAS 'one of the pride of Malaysia' and noted that Pengerang is already home to the PETRONAS Refinery and Petrochemical Integrated Development (RAPID) project, part of the massive Pengerang Integrated Complex (PIC), which is one of the largest energy hubs in the region. Driving Johor's green energy push Lee said that following discussions between state officials and PETRONAS management, it's clear this new venture will bring both economic and environmental gains. The production of SAF and HVO will help Malaysia progress towards a greener future, while helping maintain Pengerang's reputation as a hub for sustainability and innovation. It's not just about the technology — the project is expected to open up good-quality jobs for locals and give Johor a head start in the fast-growing renewable fuel industry. What it could mean for Singapore If you're a frequent flyer out of Changi or work in Singapore's aviation sector, this could be closer to home than you think. With Pengerang just across the Causeway, a steady supply of SAF from Johor could help Changi Airport and its airlines meet tough international sustainability targets without paying the high costs of importing from far-off suppliers. For the everyday traveller, it could mean flying on cleaner, more environmentally friendly planes — without ticket prices soaring from expensive fuel imports. And it's not just about the skies. Renewable diesel from the project could find its way into Singapore's buses, trucks, and even ferries, cutting carbon emissions without replacing existing engines. In other words, cleaner fuel could start powering your daily commute as well as your holiday flights. See also Mahathir and Turkish apricot are inseparable Backed by the state Lee stressed that the Johor State Government will give its full support to ensure the refinery is a success. 'This project will not only drive the country's green transformation, but will also create quality job opportunities, bring renewable energy technology to Johor, and strengthen Pengerang's position as a regional energy hub,' he said. The partnership among PETRONAS, ENI, and Euglena is being seen as another win for Johor's position on the energy map — and a clear sign that Malaysia is serious about cleaner fuel for the future. Read also: Johor pioneers wastewater recycling for Tier 4 data centres in nation's first () => { const trigger = if ('IntersectionObserver' in window && trigger) { const observer = new IntersectionObserver((entries, observer) => { => { if ( { lazyLoader(); // You should define lazyLoader() elsewhere or inline here // Run once } }); }, { rootMargin: '800px', threshold: 0.1 }); } else { // Fallback setTimeout(lazyLoader, 3000); } });
Yahoo
25-07-2025
- Business
- Yahoo
Valero Energy reports decline in Q2 2025 profits
Valero Energy has declared net income attributable to its stockholders of $714m, equating to $2.28 per share, for the second quarter of 2025 (Q2 2025). This figure represents a decrease from net income of $880m, or $2.71 per share, for the same period in the previous year. The renewable diesel segment, including the Diamond Green Diesel joint venture, experienced an operating loss of $79m, contrasting with operating income of $112m in Q2 2024. The refining segment, however, showed resilience with operating income of $1.3bn for Q2 2025, a slight increase from $1.2bn in Q2 2024. Valero chairman, CEO and president Lane Riggs said: 'We delivered solid financial results for the second quarter, driven by our strong operational and commercial execution. 'In fact, we set a record for refining throughput rate in our US Gulf Coast region in the second quarter, demonstrating the benefits of our investments in growth and optimisation projects.' The Ethanol segment reported operating income of $54m, a decrease from the $105m recorded in the previous year. General and administrative expenses rose to $220m, up from $203m in Q2 2024. Net cash from operating activities stood at $936m in Q2 2025, encompassing an unfavourable effect of $325m from changes in working capital. Adjusted net cash provided by operating activities, excluding certain items, was $1.3bn. Capital investments reached $407m, with the majority allocated to sustaining the business. The company continued to return value to stockholders, with $695m returned in Q2 through dividends and share repurchases. Quarterly cash dividend on common stock was announced at $1.13 per share, payable on 2 September 2025. Lane Riggs said: 'We remain committed to maintaining our track record of commercial and operational excellence, which has been a hallmark of Valero's strategy for over a decade. 'Our commitment remains underpinned by a strong balance sheet that also provides us plenty of financial flexibility.' The company also repaid a $251m outstanding principal balance of its senior notes and ended the quarter with $8.4bn of total debt and $4.5bn in cash and cash equivalents. Despite the mixed financial performance, Valero is investing in the future with a $230m FCC Unit optimisation project at the St. Charles Refinery, scheduled for completion in 2026. Valero intends to operate its refineries at a level approaching 94% of their aggregate capacity in Q3. Earlier in the year, Valero Energy announced the closure of its Benicia and Wilmington refineries in California, citing a challenging regulatory environment and rising costs. "Valero Energy reports decline in Q2 2025 profits" was originally created and published by Offshore Technology, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. Sign in to access your portfolio
Yahoo
07-07-2025
- Business
- Yahoo
Darling Ingredients (DAR) Taps Global Collagen Market with New JV
Darling Ingredients Inc. (NYSE:DAR) is one of the 10 best sustainability stocks to buy now. The company transforms discarded materials, such as animal by-products, used cooking oil, and food scraps, into valuable commodities, including fertilizer, feed additives, and renewable diesel. The company also operates a joint venture, Diamond Green Diesel, through which it has become one of North America's leading producers of renewable diesel, with plans to scale output beyond 1.2 billion gallons annually. This alternative fuel delivers significantly lower carbon emissions compared to traditional diesel, making it a vital part of decarbonizing heavy transport and helping meet environmental targets. wk1003mike/ Darling Ingredients also continued to make strides in product innovation. In mid-May, it signed a non-binding agreement with the Belgian industrial company, Tessenderlo Group, to combine the collagen and gelatin segments of their companies into a new company called Nextida. Nextida will be formed as a joint venture (JV), with Darling Ingredients holding a majority stake of 85% and Tessenderlo Group owning the remaining 15%. The JV is expected to generate annual revenue of $1.5 billion and will capitalize on global collagen growth by focusing on collagen-based health, wellness, and nutrition products. The transaction is expected to close in 2026, after necessary approvals. Darling Ingredients Inc. collects and recycles animal processing by-products and used restaurant cooking oil into finished products, including feed and fuel ingredients, animal proteins & meals, edible fats, and collagen. While we acknowledge the potential of DAR as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you're looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock. READ NEXT: Harvard University Stock Portfolio: Top 10 Stock Picks and . Disclosure: None.
ABC News
02-06-2025
- Business
- ABC News
Mining giant Rio Tinto growing native pongamia trees for biofuel potential
Rio Tinto has started growing pongamia trees in northern Australia, as part of a biofuels project aimed at reducing the mining giant's reliance on fossil fuels. Pongamia trees are native to Australia and produce oil-rich seeds that can be processed into renewable diesel. The company has already planted 8,000 trees near its bauxite project on the Gove Peninsula in the Northern Territory, and has also started planting 750,000 trees at a new farm it bought near Townsville in Queensland. "Midway Limited has been tasked with overseeing the planting and management of that seed farm." Mr Hoffman said fast-growing pongamia trees were common in the suburbs of Brisbane and Darwin. "It's around five years before you can harvest seeds, but then the tree has a very long life span," he told ABC Rural. "One of the benefits is this tree does appear to grow well on degraded land or previously mined land. "Also in terms of waste products, the meal that's left behind after the seed is pressed [for oil], with further treatment, can be used as a cattle feed." He said pongamia seeds would not be able to fuel Rio's entire fleet of mining vehicles, but would hopefully play a role. Earlier this year, Rio Tinto trialled 10 million litres of renewable diesel — created from used cooking oil — across its Pilbara iron ore operations in Western Australia. The biofuel got used across the supply chain, featuring in Rio Tinto's rail, marine, haul trucks, surface mining equipment and light vehicles. Rio Tinto's managing director of rail, port and core services, Richard Cohen, said diesel made up about 70 per cent of the total carbon emissions from the company's Pilbara iron ore operations. "While electrification is the ultimate longer-term solution for re-powering the majority of our fleet, we're also exploring biofuels as a complementary and nearer-term solution," he said. Forestry Industry Association of the Northern Territory (FIANT) manager Hanna Lillicrap said it was great to see a major mining company getting involved in the forestry sector. "It reflects a growing recognition of the role forestry can play as a climate-positive solution in emissions reduction strategies," she said. Ms Lillicrap said Australia was quickly becoming a leader in pongamia research and mining money was welcome. "It's great to see serious investment going into research to better understand the species and its potential," she said. "If it can be made viable at scale, pongamia could play a role in the mix in decarbonisation efforts by providing a renewable fuel alternative, especially for hard-to-abate sectors."
