# Marathon partners with Neste on Martinez renewable fuels project | Reuters

> Marathon Petroleum will form a joint venture with Neste for its Martinez, California refinery, which is being converted to produce renewable fuels. The project is pending environmental permits. The refinery was idled in 2020.

- Date: 2022-03-01 · published 2022-03-01T12:00:00.000Z
- Category: policy · region US · magnitude low
- Page: https://feedsoft.ai/events/15414-marathon-partners-with-neste-on-martinez-renewable-fuels-project-reuters
- Commodities: [Soybean Oil](https://feedsoft.ai/c/SBO.md)

## Why it matters

Conversion of idled refining capacity to renewable diesel adds future demand for vegetable oil and animal fat feedstocks, a modestly bullish factor for soybean oil.

## Read by commodity

- SBO: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| SBO | 2021-08-19 | [Marathon Petroleum forms JV with ADM for renewable fuels feedstock \| Reuters](https://feedsoft.ai/events/45651-marathon-petroleum-forms-jv-with-adm-for-renewable-fuels-feedstock-reuters.md) | -4.3% | -8.1% |
| SBO | 2021-04-09 | [U.S. renewable fuels market could face feedstock deficit \| Reuters](https://feedsoft.ai/events/47456-u-s-renewable-fuels-market-could-face-feedstock-deficit-reuters.md) | +0.3% | +16.2% |
| SBO | 2020-10-05 | [US refiners accelerate transition to renewable fuels production \| Oil & Gas Journal](https://feedsoft.ai/events/50511-us-refiners-accelerate-transition-to-renewable-fuels-production-oil-and-gas.md) | +6.9% | +5.2% |
| SBO | 2026-05-29 | [Renewable fuel credit prices hit records on U.S. biofuel mandates, oil market volatility \| Reuters](https://feedsoft.ai/events/19350-renewable-fuel-credit-prices-hit-records-on-u-s-biofuel-mandates-oil-market.md) | -0.2% | -3.8% |
| SBO | 2021-08-19 | [Marathon Petroleum Corp., ADM Announce Feedstock Partnership to Support Renewable Diesel Production](https://feedsoft.ai/events/45448-marathon-petroleum-corp-adm-announce-feedstock-partnership-to-support-renewable.md) | -4.3% | -8.1% |

## Sources

- reuters.com: https://www.reuters.com/business/sustainable-business/marathon-petroleum-partners-with-neste-martinez-renewable-fuels-project-2022-03-01/

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.