
SOURCE: U.S. Energy Information Administration
November 8, 2024
BY Erin Voegele
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Valero Energy Corp. on Oct. 22 released third-quarter financial results, reporting record-high ethanol production volumes and a profitable three-month period for both its ethanol segment and its renewable diesel joint venture.
The USDA on Oct. 19 announced plans to launch a new Harvest Fuel Relief program to provide $8 billion to U.S. farmers to help offset high fuel costs. The one-time payments will be funded through the USDA’s CCC and administered by the FSA.
XCF Global Inc. on Oct.13 announced September gross product sales of more than $12 million, driven by increasing production and expanding commercial contracts and shipments of 1.4 million gallons from the New Rise Renewables Reno facility.
ARC Bio, the Canadian joint venture between an affiliate of Bioénergie AECN and Alder Renewables, on Sept. 30 announced the successful demonstration of a pathway to produce SAF Canadian forest residues through refinery co-processing.
The USDA maintained its forecast for soybean oil use in biofuel production in its latest World Agricultural Supply and Demand Estimates report, released Oct. 9. The outlook for soybean oil prices was also unchanged.