Big oil producer Marathon Petroleum Corp. is buying an Ohio biodiesel plant. This company news release says Marathon has agreed to buy the 60 million gallon per year Felda Iffco facility in Cincinnati
“MPC has been a producer and large blender of ethanol for many years, and this acquisition will broaden our renewable fuels portfolio with a quality asset,” said Mike Palmer, senior vice president of supply distribution and planning. “We continue to grow our biodiesel blending volumes and this acquisition will be a natural value chain fit. Also, the facility is located in the heart of MPC’s Midwest assets, providing efficiencies in our product supply logistics.”
The deal is expected to be finalized in April. No details were disclosed.