Valero’s renewable diesel bet paying off

In Texas, Barron’s reports that Valero’s bet on renewable diesel has paid off, with the success at Diamond Green Diesel helping to offset the otherwise dismal quarterly reporting. Not only did the company sell 870,000 gallons per day of renewable diesel during Q3 compared to just 232,000 gallons during the same period last year, but revenues hit a whopping $184 million compared to $65 million in Q3 2019. So it’s no wonder that Valero plans to invest 40% of its growth projects budget in 2020 and 2021 on renewable diesel, up from 30% previously.