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Friday, December 17, 2021

Soybean Oil Manufacturing Plant -- Spiritwood, ND -- MPC, ADM -- Close On Deal -- December 17, 2021

 Link here.

  • JV: Archer-Daniels-Midland, Marathon Petroleum Corporation (the refiner)
  • product: soybean oil --> renewable diesel fuel
  • ADM: 75%
  • MPC: 25%
  • to be completed in 2023
  • product to be supplied to MPC
  • 600 million lbs of refined soybean oil per year--> 75 million gallons of diesel per year
    • diesel: one gallon = 137,381 Btu
    • North Dakota consumption: 100 trillion Btu distillate fuel oil
    • 100,000,000,000,000 / 137,381 = 730 million gallons per year
    • Spiritwood: about 10% of ND's annual distillate fuel consumption (?)
  • disclaimer: I often make simple arithmetic errors.

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