Repsol SA REPYY opted for Axens Vegan technology for its first advanced biofuel production plant at the Cartagena refinery in Spain. Axens was selected on the basis of its know-how in hydrotreated vegetable oils (“HVO”) and its inclination toward power sustainability in transport.
The technology hydrogenates a broad range of lipids and produces low-density and high cetane renewable diesel along with renewable sulfur-free jet fuel. This renewable fuel-based technology enables producers to implement environmental regulations and acquire the diversification of energy sources with top-end products.
The facility, which will produce 250,000 tons of advanced biofuels, involves the implementation of a hydrogen plant to fuel a latest hydrotreatment unit fitted with Vegan technology. Axens’ scope of activities includes supply of process books, basic engineering, catalysts and adsorbents, proprietary equipment, trainings as well as technical services.
The production plant will supply advanced biofuels, namely hydrobiodiesel, biojet, bionaphtha and biopropane for aircraft, trucks and cars. The facility, in turn, is making headway toward Repsol’s aim of becoming a net zero-carbon company. Axens is promoting various technological options for transportation sectors where electrification is not technologically feasible. Beside, this adds to renewable hydrogen and synthetic fuels projects, which provide alternative approaches to achieve carbon neutrality in transport.
Per Patrick Sarrazin, Axens’ executive vice president, the Spanish energy giant will benefit from Axens’ expertise in middle distillates hydro-treatment and hydrocracking along with its assistance in technology, services and advanced catalysts that has been developed, manufactured and provided by the technology provider. On its part, Repsol aims to achieve net-zero carbon emissions by 2050. With this cutting-edge technology, the energy company is committing toward the carbon neutrality in transport and boosting economic activities in Spain amid the pandemic.
Company Profile & Price Performance
Headquartered in Madrid, Spain, Repsol is an integrated energy company, which advocates energy transition. Its shares have underperformed the industry in the past month. The energy company’s stock has gained 19.4% compared with the industry’s 14.2% increase.
Zacks Rank & Stocks to Consider
Repsol currently carries a Zack Rank #5 (Strong Sell). Some better-ranked players in the energy space are Sprague Resources LP SRLP, DCP Midstream Partners LP DCP and CNOOC Limited CEO, each currently sporting a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
In the past 60 days, the Zacks Consensus Estimate for Sprague Resources’ 2020 earnings has been raised 54%.
DCP Midstream is expected to see earnings growth of 183.4% in 2021, while CNOOC is likely to see an earnings uptick of 41% next year.
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