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March

01

CVX Buys REG for $3 Billion, Boosting Biofuel Capacity

Inside this issue

Chevron's agreement to acquire Renewable Energy Group (REG) for $3.15 billion is another step for the company to lower its carbon intensity and reach renewable fuels production targets.

The transaction is expected to accelerate progress toward Chevron’s goal to grow renewable fuels production capacity to 100,000 barrels per day by 2030 and brings additional feedstock supplies and pre-treatment facilities.
Source: Chevron

Fuel consumption in the industrial sectors is a critical area to decarbonize. REG's biodiesel markets are seeing active European incentives along with US state incentives for cleaner fuel standards. California's Low Carbon Fuel Standard (LCFS) is one of the more mature incentives since it became effective in 2011 and other US states use the LCFS as a reference model for policy adoption.

REG Incentivized Markets
Source: REG

Reducing Carbon Intensity through Biofuels

Energy companies are aggressively pursuing opportunities to lower their operations carbon footprint and deliver low carbon solutions for industry. With the acquisition of REG, Chevron now has a low carbon intensity fuel that has high energy density.

REG Biodiesel
Source: REG

Biofuels allow companies to solve carbon intensity in the transportation sector and in certain jurisdictions, receive credits for reducing emissions. Credits for LCFS in January 2022 ranged from about $140 to $209 per credit.

You can find previous coverage of biofuels and biodiesel:

Inside this Issue

💰 Chevron Announces Agreement to Acquire Renewable Energy Group
🤝 Hydrogen Consortium Aims to Decarbonize Heavy Transport, Increase Renewable Energy
♻️ ERM acquires Point Advisory to strengthen APAC sustainability services
☁️ Talos Looks to Build Louisiana CCS Project, Nabs CO2 Transport Pact with EnLink
🪨 Expert sees region's huge advantage in hydrogen, carbon capture
👍 Tenaris expert highlights performance of premium connections for Carbon Capture and Storage wells

Articles in this issue

Chevron Announces Agreement to Acquire Renewable Energy Group

chevroncorp.gcs-web.com
Chevron Corporation (NYSE: CVX) and Renewable Energy Group, Inc. (NASDAQ: REGI) (“REG”) announced today a definitive agreement under whic...

Hydrogen Consortium Aims to Decarbonize Heavy Transport, Increase Renewable Energy

www.environmentalleader.com
In an effort to create projects that use clean hydrogen to decarbonize heavy transport, increase the use of renewable energy and decrease...

ERM acquires Point Advisory to strengthen APAC sustainability services

www.erm.com
ERM, the world’s largest pure play sustainability advisory firm, has acquired Point Advisory, a leading Australian climate change and sus...

Talos Looks to Build Louisiana CCS Project, Nabs CO2 Transport Pact with EnLink

www.naturalgasintel.com
Houston’s Talos Energy Inc., which has envisioned carbon capture projects on the Gulf Coast, clinched an agreement with a Louisiana lando...

Expert sees region's huge advantage in hydrogen, carbon capture

www.bizjournals.com
And the success of a carbon capture/storage and hydrogen hub will depend in large part on the availability of a cheap and easy-to-obtain ...

Tenaris expert highlights performance of premium connections for Carbon Capture and Storage wells

www.marketscreener.com
Carbon Capture, Utilization and Storage (CCUS) is an essential part of the global energy transition and Tenaris is developing and enhanci...

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