Marathon Petroleum joins venture to deliver low carbon intensity fuels
Marathon Petroleum Corp Announces Joint Venture for Martinez Renewable Fuels Project with Neste. The partnership will be structured as a 50/50 joint venture with Neste expected to contribute a total of $1 billion, inclusive of half of the total project development costs projected through the completion of the project. This strategic partnership is expected to advance the current project objectives of delivering low carbon intensity fuels to support California's climate goals.
New Activity|ESGIn response to volatile demand in the wake of the first COVID-19 surge, the company undertook a comprehensive cost reduction program, aimed at shoring up labor and supply costs.
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