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 [e-mail]

(END) Dow Jones Newswires

April 22, 2021 11:00 ET (15:00 GMT)

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