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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11.27.2023

Appeals Court Strikes Down EPA’s Denial of SREs

Appeals Court Strikes Down EPA’s Denial of SREs

*Please Note – Bob Lane was out of the office today and will return on Tuesday, November 28, 2023.

On November 22, a U.S. appeals court struck down a decision...

11.27.2023

Cattle Slaughter Forecast Lower to Close out 2023

Cattle Slaughter Forecast Lower to Close out 2023

The market was very quiet today coming off of the long holiday weekend. Most were getting their logistics and bid/offer ideas ready for the week and looking ahead to...

11.27.2023

Hog Slaughter Forecasted Above 2022 Into December

Hog Slaughter Forecasted Above 2022 Into December

Pressure on ruminant meat and bonemeal continues to be reported on accounts of excess offerings from slowed/diminished export trade. Participants communicated low $200s per short ton on ruminant meat...

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