Sector News

ExxonMobil signs renewable-diesel purchase agreement with Global Clean Energy

August 13, 2020
Chemical Value Chain

ExxonMobil Corp. (Irving, Tex.) has signed an agreement with Global Clean Energy Holdings to purchase 2.5 million barrels of renewable diesel per year for five years from a converted California refinery starting in 2022.

The renewable diesel will be sourced from a refinery acquired by Global Clean Energy in Bakersfield, California, which is being retooled to produce renewable diesel from Global Clean Energy’s patented varieties of camelina, a fallow land crop that does not displace food crops, and other non-petroleum feedstocks. Following scheduled production startup in 2022, ExxonMobil plans to distribute the renewable diesel within California and potentially to other domestic and international markets.

“Our agreement with Global Clean Energy builds on ExxonMobil’s longstanding efforts to develop and offer products that help meet society’s energy needs while reducing environmental impacts,” said Bryan Milton, president of ExxonMobil Fuels and Lubricants Company. “Chemically similar to petroleum-based diesel, renewable diesel can be readily blended for use in engines on the market today.”

“Our relationship with ExxonMobil is a perfect fit for Global Clean Energy and the Bakersfield biorefinery because it leverages ExxonMobil’s scale and unrivaled market perspective to unlock value for both companies,” said Richard Palmer, CEO of Global Clean Energy Holdings. “By combining upstream feedstock supply and downstream production, we are moving toward the fully integrated production model pioneered by ExxonMobil.”

In addition to camelina, various non-petroleum feedstocks, including used cooking oil, soybean oil, distillers’ corn oil and other renewable sources will be refined to produce the renewable diesel.

Based on analysis of California Air Resources Board (CARB) data, renewable diesel from various non-petroleum feedstocks can provide life-cycle greenhouse gas emissions reductions of approximately 40 percent to 80 percent compared to petroleum-based diesel.

By: Mary Page Bailey

Source: Chemical Engineering

comments closed

Related News

January 23, 2022

Eastman invests US$1B in world’s largest molecular plastics recycling facility in France

Chemical Value Chain

Eastman is investing up to US$1 billion in building what it says is the world’s largest molecular plastics recycling facility in France. The new facility would use Eastman’s polyester renewal technology to recycle up to 160,000 metric tons of hard-to-recycle plastic waste annually – enough plastic waste to fill Stade de France national football stadium 2.5 times.

January 23, 2022

LG Energy Solution opens books for South Korea’s largest IPO at up to $10.8 bln

Chemical Value Chain

Korean battery maker LG Energy Solution has opened the books to investors to raise up to $10.8 billion in the country’s largest initial public offering (IPO), according to a term sheet seen by Reuters. The shares will be sold in a price range of 257,000 won to 300,000 won ($216.19-$252.36) apiece to raise between $9.2 billion and $10.8 billion, the term sheet showed.

January 23, 2022

SHYNE, the largest consortium to promote renewable hydrogen in Spain, is born

Chemical Value Chain

The SHYNE (Spanish Hydrogen Network) project is the largest multisectoral consortium in Spain, created to promote the decarbonization of the economy through renewable hydrogen. SHYNE will have a total investment of €3.23 billion euros that will serve to develop more competitive technologies and evolve both the Spanish industry and its infrastructure towards decarbonization, generating more than 13,000 jobs.

Send this to a friend