Energy Transition: Total Is Investing More Than €500 Million to Convert Its Grandpuits Refinery Into a Zero-crude Platform for Biofuels and Bioplastics
TOTAL SA (TOT)
Last total sa earnings: 2/7 04:01 pm
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Source: Business Wire
PARIS--(BUSINESS WIRE)--Regulatory News:Within the framework of its net zero strategy, Total (Paris:FP) (LSE:TTA) (NYSE:TOT) will convert its Grandpuits refinery (Seine-et-Marne) into a zero-crude platform. By 2024, following an investment totaling more than €500 million, the platform will focus on four new industrial activities:Production of renewable diesel primarily intended for the aviation industry.Production of bioplastics.Plastics recycling.Operation of two photovoltaic solar power plants.Meanwhile, crude oil refining at the platform will be discontinued in the first quarter of 2021 and storage of petroleum products will end in late 2023. Operations at service stations and airports in the Greater Paris region will not be affected: they will be supplied by the refineries at Donges—currently undergoing a €450 million modernization—and Normandy.This decision to end its oil refining comes in the wake of an audit conducted over several months on the 260-kilometer Ile-de-France p
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