November 28, 2023
BY Erin Krueger
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The USDA maintained its forecast for 2026-’27 soybean oil use in biofuel production in its latest World Agricultural Supply and Demand Estimates report, released Aug. 12. The estimate for 2025-’26 soybean oil use in biofuel was revised up.
The U.S. Energy Information Administration maintained its 2026 and 2027 production forecasts for biodiesel, renewable diesel and sustainable aviation fuel (SAF) in its latest Short-Term Energy Outlook, released Aug. 11.
XCF Global Inc., an emerging U.S.-based producer of renewable diesel and SAF, on Aug. 7 provided an operational update on renewable diesel production, initial fuel sales and ongoing optimization work at its New Rise Renewables Reno facility.
Phillips 66 on Aug. 5 reported the company’s renewable fuel segment achieved significantly higher pre-tax income during the second quarter due to higher regulatory credits from higher pricing and renewable fuels production.
Par Pacific Holdings Inc. released second quarter financial results on Aug. 5, reporting its Hawaii renewable fuels facility ramped up production during the three-month period after commencing operations in April.