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Chevron, Bunge announce definitive agreements for joint venture

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By Chevron Corp.

February 24, 2022

BusinessFeedstocksNorth America

Chevron U.S.A. Inc. and Bunge North America Inc. on Feb. 22 announced the signing of definitive transaction agreements to create their previously announced joint venture. The new venture will create renewable feedstocks for biofuel production.

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The U.S. EPA has released updated renewable identification number (RIN) data, reporting that nearly 1.78 billion RINs were generated under the Renewable Fuel Standard in January, up from 1.4 billion generated during the same period of 2021.

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ENG on Feb. 22 announced it has been selected by a confidential client to provide engineering, procurement and construction (EPC) services for a renewable fuels plant that will produce 100 MMgy of renewable diesel and SAF.

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BDI-BioEnergy International GmbH on Feb. 17 announced it has contracted with Renewable Energy Group to upgrade two biodiesel plants in Germany by installing a state-of-the-art feedstock pretreatment technology to process wastes fats and oils.

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CVR Energy has announced the renewable diesel conversion project at its Wynnewood, Oklahoma, refinery is nearly complete. The company's board of directors has also approved a plan to break out its renewable fuels business as a separate entity.

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The Advanced Biofuels Association has released comments calling on the U.S. EPA to restore regulatory certainty in its proposed renewable volume obligation (RVO) under the RFS and calling on the agency to increase the RVO for advanced biofuels.

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Aemetis Inc. announced on Feb. 16 that the Universal Biofuels subsidiary of Aemetis in Kakinada, India has agreed to acquire a site to construct a tallow oil refining facility to provide feedstock to the company's biodiesel and SAF plants.

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Strategic Biofuels announced on Feb. 17 that Louisiana Gov. John Bel Edwards awarded the company's Louisiana Green Fuels project a $250 million bond allocation. The bonds will form an integral part of the debt financing for construction costs.

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On Feb. 16, Clean Fuels Alliance America submitted written comments to the Senate Committee on Environment and Public Works ahead of its hearing to examine the U.S. EPA's Renewable Fuel Standard program.

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Soybean farmers, biodiesel producers and other supporters met with Iowa state senators on Feb. 15, urging them to vote for a bill to increase consumer access to higher biofuel blends like 20 percent biodiesel (B20).

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The New Mexico House of Representatives on Feb. 17 failed for the second consecutive year to pass legislation that aims to implement a state Clean Fuel Standard. This year's bill, SB 14, is now dead.

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The U.S. EPA released updated SRE data on Feb. 17, reporting that no new SRE petitions were filed under the RFS in the proceeding month. In addition, the agency did not act on any of the 69 SRE petitions that have been pending since mid-January.

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Neste released Q4 financial results on Feb. 10, reporting that the company's renewable products business segment achieved improve sales volumes and sales margins despite several scheduled shutdowns, a weaker U.S. dollar and higher fixed costs.

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The collaboration agreement is initially focused on opportunities in North America and Europe, where trials of B20 and B30 are being run in high-traffic regions of both continents.

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The agency is required to report to congress on the environmental and resource conservation impacts of the Renewable Fuel Standard.

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Boeing on Feb. 7 announced a supply agreement for 2 million gallons of blended sustainable aviation fuel (SAF) with EPIC Fuels to power its commercial airplanes operations in Washington state and South Carolina through 2022.

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Global Clean Energy Holdings Inc. is advancing its renewable diesel production through an agreement with ExxonMobil, which will invest $125 million with an option to acquire up to a 25 percent equity stake in the company.

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Emerging Fuels Technology on Feb. 8 introduced its Maxx Jet and Maxx Diesel proprietary methods, which employ a unique catalyst system made for EFT by Haldor Topsoe. The process converts syncrude into high-quality jet and diesel fuels.

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An Iowa bill that aims to increase consumer access to E15 and B20 is one step closer to implementation. The legislation was approved by the Senate Agriculture Committee on Feb. 8, clearing the way for a full Senate vote.

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The USDA maintained its forecast for 2021-'22 soybean oil use in biofuel production in its latest WASDE report, released Feb. 9. The 2021-'22 soybean outlook is for increased soybean crush and lower ending stocks.

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The U.S. exported 28,666.9 metric tons of biodiesel and biodiesel blends of B30 and greater in December, up from both 13,970.8 metric tons the previous month and 9,088.1 metric tons in December 2020, according to data released by the USDA.

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Rep. Angie Craig, D-Minn., led several co-chairs of the bipartisan Congressional Biofuels Caucus in sending a letter to U.S. EPA Administrator Michael Regan on Feb. 7 urging the agency to protect and strengthen the Renewable Fuel Standard.

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The U.S. Energy Information Administration is providing new forecasts for biodiesel, renewable diesel and other biofuels, including renewable jet fuel and renewable naphtha, starting with the February edition of its Short-Term Energy Outlook.

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Representatives of the biofuels industry urged the U.S. EPA to follow through with its proposal to deny more than 60 pending SRE petitions in comments filed with the agency before the close of the Feb. 7 public comment deadline.

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The New Mexico Senate on Feb. 3 voted 25 to 16 to approve the Clean Fuel Standard Act. The bill, SB 14, aims to reduce the total carbon intensity (CI) of all transportation fuels by 20 percent in 2030 and 30 percent by 2040.

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Representatives of the U.S. biofuels industry on Feb. 4 called on the U.S. EPA to abandon plans to reduce the 2020 Renewable Fuel Standard renewable volume obligation (RVO) and set strong RVOs for 2021 and 2022.

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Representatives of the U.S. biofuels industry on Feb. 4 called on the U.S. EPA to abandon plans to reduce the 2020 Renewable Fuel Standard renewable volume obligation (RVO) and set strong RVOs for 2021 and 2022.

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The U.S. Department of Energy's Advanced Manufacturing Office issued a RFI on Jan. 27 to gather input on industrial priorities for decarbonization, including emerging technologies that could be demonstrated or adopted by the indsutrial sector.

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Nuseed has entered into a long-term strategic offtake and market development agreement with BP Products North America Inc. that will see bp, or its affiliates, purchase Nuseed Carinata oil for use as biofuel feedstock.

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Nuseed has entered into a long-term strategic offtake and market development agreement with BP Products North America Inc. that will see bp, or its affiliates, purchase Nuseed Carinata oil for use as biofuel feedstock.

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