Other News

Chevron Corporation has completed its previously announced acquisition of Renewable Energy Group (REG) following approval by the REG stockholders. Earlier in the year it was announced that Chevron would acquire its outstanding shares for $3.15 billion (€3 billion). The acquisition combines renewable fuels production of Renewable Energy Group with Chevron’s large manufacturing, distribution,…
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Biofuel demand recovered in 2021 from Covid lows, to near 2019 levels, a new International Energy Agency (IEA) report revealed. However, this year the IEA expect higher prices for oil and biofuels, combined with lower GDP expectations, to slow demand growth by 20% compared to our previous forecast. It said growth in transportation fuels, albeit at more modest levels, and strengthening biofuel…
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TotalEnergies has agreed with Global Infrastructure Partners (GIP) to acquire 50% of Clearway Energy Group (CEG) - the fifth largest US renewable energy player. This constitutes its largest acquisition in the renewable energy in the US, one of the top three renewable markets in the world. TotalEnergies is further accelerating its growth in the renewable energy sector by partnering with GIP, a…
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EU oilseed production is likely to exceed the previous year's level by only 0.4% in the current crop year, although the oilseed area is expected to rise 5%. The reason is prospective lower yields due to constraints on means of production. According to Agrarmarkt Informations-Gesellschaft, the Russian invasion of Ukraine has led to massive volatility in the oilseed market. This includes the…
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Oil and gas major Shell has reported its highest ever quarterly profits as prices surged globally. Shell made $9.13 billion (€8.6 billion) in the first three months of 2022, nearly triple its $3.2 billion (€3 billion) profit it announced for the same period last year. However, the company also revealed that said exiting from the Russian oil and gas market due to the Ukraine conflict had…
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Russia’s war in Ukraine has hit the supply of almost half of the world’s sunflower oil exports. Shipments of sunflower oil - and seeds used by crushers elsewhere - have ground to a halt amid the war, disrupting supplies of the commodity used in biofuel production. The shortage of Ukrainian sunflower oil has triggered a domino effect that underscores how interconnected global commodity…
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StocExpo, the largest and longest-running international bulk liquid storage event, is returning on 23-25 May at the Rotterdam Ahoy with a variety of exhibitors set to be present. Over 140 leading companies from across the world’s bulk liquid storage supply chain have signed up to exhibit at the event. The exhibitors include MannTek showcasing its products for safe and eco-friendly handling of…
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The NGO body Transport & Environment has accused the European biofuels lobby of “cynically taking advantage of people’s concerns over fuel prices” after it called for imports of Russian oil to be replaced by biofuels made from food crops. A new study by T&E has provided evidence that crops are needed much more for food than fuel, and that using biofuels will exacerbate an already…
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Valmet and Neles Corporation have announced that their respective boards have signed a merger agreement. The combined company will have an accumulative net sales for 2020 of approximately €4.3 billion. The combination is expected to generate annual run-rate synergies of approximately €25 million of which approximately 60% are expected to be achieved by 2023 and approximately 90%by…
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Intercontinental Exchange has announced the launch of two Renewable Volume Obligation futures contracts, expanding its US renewable fuels futures markets. The US Environmental Protection Agency’s (EPA) Renewable Fuel Standard (RFS) mandates the incorporation of renewable fuels into transportation fuel. Each year, the EPA outlines the volume requirements for each renewable fuel category and…
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Clariant has announced that the publication of its full year 2021 results will be delayed due to an investigation into accounting issues. As a result, the publication of the Integrated Report 2021 and the Annual General Meeting of shareholders (AGM) will be postponed beyond the scheduled dates. Clariant shares fell more than 16% in early trading on February 14. The investigation was triggered…
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The continued dryness in South America has led the US Department of Agriculture (USDA) to revise the forecast of global soybean production considerably downward. Expectations for world trade, processing and season-ending stocks were adjusted accordingly. In its latest report, the USDA significantly lowered its forecast of global soybean supply and demand. The biggest adjustment was in global…
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Participants will have an opportunity to join the digitalisation journey and visit Neste’s refinery and Technology Centre during the third day of the Petrochemical and Refining Congress (PRC) Europe 2022. The plant is located in the Kilpilahti industrial area in Porvoo, Finland, and the event will be on 1 June. For the second consecutive year, PRC Europe is co-hosted by Neste Corporation, the…
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