MOSCOW (MRC) -- Marathon Petroleum, the largest refiner in the United States, is evaluating a conversion of Phillips 66’s Alliance, Louisiana, refinery into a renewable fuel plant, said Reuters.
The two companies are scheduled to meet next week and tour the 255,600 barrel-per-day refinery, which has been idled since late August, a day before Hurricane Ida roared over the area and swamped the site. Phillips 66 spokesperson Bernardo Fallas declined to comment.
Marathon spokesperson Jamal Kheiry said the company does not comment on “rumor or market speculation." It was unclear if Marathon was interested in acquiring the refinery or operating it through a joint venture with Phillips 66, one of the people said.
Phillips 66 said in November it would convert the Alliance refinery into an oil and refined products terminal to take advantage of its location on the Mississippi River, 20 miles (26 km) south of New Orleans.
Hurricane Ida caused flooding that breached the flood wall around the refinery and inundated control systems causing millions of dollars of damage to the facility.
At least three companies were potential buyers of the refinery before the hurricane struck. They included Hilcorp, Valero Energy and Saudi Aramco’s Motiva Enterprises , people familiar with the matter had said.
Ethylene and propylene are the main feedstocks for the production of polyethylene (PE) and polypropylene (PP), respectively.
According to MRC's ScanPlast report, Russia's estimated PE consumption totalled 2,265,290 tonnes in the first eleven months of 2021, up by 14% year on year. Shipments of all grades of ethylene polymers increased. At the same time, PP shipments to the Russian market were 1,363,850 tonnes in January-November, 2021, up by 25% year on year. Supply of homopolymer PP and block-copolymers of propylene (PP block copolymers) increased, whereas supply of injection moulding PP random copolymers decreased significantly.
Marathon Petroleum Corporation (MPC) is a leading, integrated, downstream energy company headquartered in Findlay, Ohio. The company operates the nation's largest refining system. MPC's marketing system includes branded locations across the United States, including Marathon brand retail outlets.