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…
11.21.2024
Domestic US biodiesel blending helps lift October RFS RIN production
US domestic biodiesel blending of 147.5 million gallons in October produced a monthly high of 221.2 million renewable identification number (RIN) credits for January-October. This was 11.5% above September...
11.21.2024
CWG trades lower as broader animal fats markets hold steady
The US animal fats and oils markets held steady on Thursday November 21, with limited trading as attention shifted toward broader macroeconomic factors and...
11.21.2024
October commercial cattle, hog production above 2023
US animal protein prices were steady on Thursday November 21. Limited trade was reported from market sources due to the proximity of the extended Thanksgiving holiday weekend in the...