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…
07.26.2024
US Court of Appeals sends SRE decision back to EPA; soyoil prices tumble on potentially lower biofuel demand
On Friday July 26, the US Court of Appeals vacated at least some of the blanket small refinery exemption (SRE) denials made by the Environmental Protection Agency (EPA) in...
07.26.2024
Animal fats and oils trade freezes following soybean oil market drop on SRE report
Trading in the animal fats and oils market was quiet on Friday July 26; the California yellow grease market the only one to rise, with prices up to 31-32...
07.26.2024
Porcine bloodmeal, Missouri River, moves higher week on week; June commercial cattle, hog slaughter
US animal protein prices were highly mixed in the week to Friday July 26, with limited trade on both Thursday July 25 and on Friday. Porcine bloodmeal was the...