Calumet Inc. announced that its Shreveport refinery entered an unplanned maintenance shutdown on April 2 2026 after organic chlorides were detected in feedstock tanks. The shutdown halted production for a period that cost the company an estimated 750,000 barrels of output, and the refinery has since resumed full operations, processing over 50,000 barrels per day.
The company is conducting a thorough investigation with third‑party experts to determine the source of the contamination. While the investigation is ongoing, Calumet has not disclosed a dollar figure for the outage’s impact on quarterly revenue, but the loss of 750,000 barrels is expected to reduce earnings for the period.
In parallel, Calumet updated investors on its Montana Renewables MaxSAF expansion, noting that the project is more than 70 % complete, on schedule and within budget. The expansion will add 120‑150 million gallons of sustainable aviation fuel capacity, and the company expects to resume full operations after the 48‑day shutdown that began the week of March 2. The new capacity is projected to generate margin‑enhancing revenue once online.
The MaxSAF project is a key component of Calumet’s renewable fuels strategy, positioning the company to capture growing demand for sustainable aviation fuel driven by regulatory frameworks and corporate sustainability goals. The company’s 12 facilities, which include Specialty Products and Solutions, Montana/Renewables, and Performance Brands, support this expansion.
Todd Borgmann, Calumet’s CEO, said the MaxSAF expansion is on track for completion in the first half of 2026 and that the SAF marketing program is pacing well ahead of schedule. David Lunin, EVP and CFO, added that the turnaround project for the MaxSAF initiative would begin in March 2026 and is expected to finish in the second quarter, with ramp‑up into the third quarter.
Calumet has been working to reduce debt and improve financial flexibility, and the company’s Q4 2025 earnings beat analyst expectations with an EPS of –$0.43 versus –$0.67 forecast, reflecting disciplined cost management. The company’s focus on operational reliability and cost competitiveness at Montana Renewables underpins its confidence in the long‑term growth of the SAF market.
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