Exxon Expands Renewable Fuels Agreement with Global Clean Energy Holdings
By Michael Dabaie
Exxon Mobil Corp. and Global Clean Energy expanded their
five-year agreement to increase Exxon's purchase of renewable
diesel up to 5 million barrels a year.
Exxon will be the exclusive buyer of renewable diesel from
Global Clean Energy's biorefinery in Bakersfield, Calif., which is
scheduled to begin production in early 2022.
The renewable diesel uses Global Clean Energy's camelina crop,
which the company said can significantly reduce life-cycle
greenhouse gas emissions.
The Bakersfield biorefinery will process up to 15,000 barrels
per day of renewable feedstocks, including camelina. The balance of
renewable diesel will be produced using various non-petroleum
feedstocks, including used cooking oil, soybean oil, distillers'
corn oil and other renewable sources.
The original agreement signed in August 2020 committed Exxon to
purchase 2.5 million barrels of renewable diesel per year.
Following production startup, ExxonMobil said it plans to
distribute the renewable diesel within California and potentially
other U.S. and international markets.
Write to Michael Dabaie at firstname.lastname@example.org
(END) Dow Jones Newswires
April 22, 2021 11:00 ET (15:00 GMT)
Copyright (c) 2021 Dow Jones & Company, Inc.