Swedish oil company Preem will invest about€33.6 million ($44.6 million) to double its production of diesel that includes renewable content at its Port of Gothenburg refinery, industry news site Maritime Executive reports.
"Our investment is completely in keeping with the times," said Preem President Petter Holland.
"Sweden needs a much higher proportion of green fuel if it is to meet the government's environmental targets.
"Diesel consumption has increased substantially in recent years and we feel that our product has significant market potential."
The refinery expansion, scheduled for completion in the fall of 2015, would increase the green diesel volumes to about 800,000 tonnes per year.
shipandbunker.com»
"Our investment is completely in keeping with the times," said Preem President Petter Holland.
"Sweden needs a much higher proportion of green fuel if it is to meet the government's environmental targets.
"Diesel consumption has increased substantially in recent years and we feel that our product has significant market potential."
The refinery expansion, scheduled for completion in the fall of 2015, would increase the green diesel volumes to about 800,000 tonnes per year.
shipandbunker.com»