Bunge and Chevron have made a final investment decision for their joint venture Bunge Chevron Ag Renewables LLC on March 4.
The venture aims to build a new oilseed processing plant adjacent to its existing processing facility located on the Gulf Coast in Destrehan, Louisiana.
Bunge Chevron Ag Renewables will leverage Bunge’s expertise in oilseed processing and Chevron’s renewable fuel expertise to develop renewable fuel feedstock. Under the joint venture agreement, Bunge will operate the processing plants in Destrehan and Cairo, Illinois. Chevron will have purchase rights for the oil to use as feedstock to manufacture low-carbon intensity transportation fuels with lower lifecycle carbon intensity.
The plant, which will be operational in 2026, features a flexible design in order to allow processing of soybeans, softseeds and winter oilseed crops, among others. The processing facility aims to not only meet the increased market demand for renewable fuel feedstock, but also support feed and protein markets through the production of meal products.
Recommended Reading
SilverBow Makes Horseshoe Lateral in Austin Chalk
2024-05-01 - SilverBow Resources’ 8,900-foot lateral was drilled in Live Oak County at the intersection of South Texas’ oil and condensate phases. It's a first in the Chalk.
Petrobras Sending Nearly Half of Oil Exports to China
2024-04-30 - Conflict in the Middle East has enabled Brazil’s state-owned Petrobras to change the flow of its oil exports, with China being the primary beneficiary, followed by Europe.
Equinor Says EQT Asset Swap Upgrades International Portfolio
2024-04-30 - Equinor CFO Torgrim Reitan says the company’s recent U.S. asset swap with EQT Corp. was an example of the European company “high-grading” its international E&P portfolio.
E&P Highlights: April 29, 2024
2024-04-29 - Here’s a roundup of the latest E&P headlines, including a new contract award and drilling technology.
Kosmos Energy’s RBL Increased, Maturity Date Extended
2024-04-29 - Kosmos Energy’s reserve-based lending facility’s size has been increased by about 8% to $1.35 billion from $1.25 billion, with current commitments of approximately $1.2 billion.