HELSINKI (Reuters) – Finnish refiner Neste said on Tuesday it has formed a joint venture with U.S.-based oil company Marathon Petroleum Corp to produce renewable fuels in California.
Marathon Petroleum and Neste announced on Tuesday they convert Marathon’s Martinez, California refinery into a renewable fuels production facility.
Neste’s Chief Executive Peter Vanacker said the California investment and Neste’s new facility under construction in Singapore would make the Finnish company the world’s first truly global renewables producer with production in Europe, Asia and North America.
(Reporting by Anne Kauranen, Editing by Louise Heavens)
