Global Clean Energy’s Future in Question

Global Clean Energy’s Future in Question

 

ExxonMobil Walking Away From Offtake Agreement, GCEH Claims Force Majeure

ExxonMobil and Global Clean Energy Holdings (GCEH) entered into a product off-take agreement (POA) in April of 2019 where Exxon committed to purchasing 85 million gallons of renewable diesel from GCEH with an option to increase the POA volume.  The agreement was conditioned upon GCEH acquiring a refinery capable of producing the volume and quality of renewable diesel necessary, as well as having the refinery operational by August 31, 2021.

The partnership, beneficial to both, was expanded in early 2021.  Exxon and GCEH agreed to a five-year renewable diesel purchase agreement for up to five million barrels per year. Exxon would be the exclusive buyer of GCEH renewable diesel. 

The New agreement did not specifically include sustainable aviation fuel (SAF), but the parties did concur that if GCEH decided to include SAF optionality, Exxon would…

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03.07.2025

Sausage casings bulletin, March 7, 2025

Sausage casings bulletin, March 7, 2025

Runner market commentary
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03.03.2025

EASA releases EU SAF mandate penalty reference prices

EASA releases EU SAF mandate penalty reference prices

The EU Aviation Safety Agency (EASA) released its report on 2024 aviation fuel prices on February 25, and this will be used to assess penalties for non-compliance with ReFuelEU...

03.03.2025

Gulf UCO, tallow prices edge lower; Chicago lard posts modest gains

Gulf UCO, tallow prices edge lower; Chicago lard posts modest gains

Activity in the US animal fats and oils markets picked up late in the day on Monday March 3, with the US Gulf region reporting the bulk of trades.

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