U.S. refiner Phillips 66 and biodiesel producer Renewable Energy Group Inc. have abandoned construction of a renewable diesel plant in Washington state following delays in receiving permits and uncertainties, the companies said.
Reuters reports that this marks a setback in what has been a major push by refiners including Marathon Petroleum, HollyFrontier and Valero to produce diesel from soybeans and other organic products and earn lucrative tax credits for generating the fuels.
The proposed 250-million-gallon/year project would have been the largest renewable diesel refinery on the West Coast of the United States, the companies said on Tuesday.
