Bunge (NYSE:BG) and Chevron (NYSE: CVX) today announced approval
of a final investment decision for their joint venture Bunge
Chevron Ag Renewables LLC to build a new oilseed processing plant
adjacent to its existing processing facility located on the Gulf
Coast in Destrehan, LA. The announcement was celebrated with a
groundbreaking event at the site.
The plant features a flexible design, intended to allow it to
process soybeans as well as softseeds, including novel winter
oilseed crops, such as winter canola and CoverCress, among others.
Expected to be operational in 2026, the processing facility aims to
add scale and efficiencies to Bunge Chevron Ag Renewables, that
will allow the company to better meet the increased market demand
for renewable fuel feedstocks. The plant is also intended to
support the growing feed and protein markets through the production
of meal products.
“This new facility is another step in our long-term strategy to
improve our capabilities at scale for the renewable fuels market
and to reduce the carbon intensity of our own and our customers'
value chains,” said Luciano Salvatierra, Bunge’s Senior
Vice-President, Renewable Fuels.
The expansion is expected to create more than 150 construction
jobs and add 30 new jobs when the plant is operational.
“Having greater ability to process softseeds, including novel
winter oilseed crops, will help advance our innovation in the
feedstock space and meet the growing demand for renewable fuels,”
said Stacey Orlandi, director, Manufacturing, Chevron Renewable
Energy Group. “Investments like this one help support farmers and
consumers while reducing the lifecycle carbon intensity for
transportation fuels.”
Bunge Chevron Ag Renewables is focused on developing renewable
fuel feedstocks leveraging Bunge’s expertise in oilseed processing
and farmer relationships and Chevron’s expertise in renewable fuels
production and marketing. Under the joint venture agreement, Bunge
operates the JV’s processing plants in Destrehan and Cairo, Ill.;
Chevron has purchase rights for the oil to use as feedstock to
manufacture transportation fuels with lower lifecycle carbon
intensity.
About Bunge
At Bunge (NYSE: BG), our purpose is to connect farmers to
consumers to deliver essential food, feed and fuel to the world.
With more than two centuries of experience, unmatched global scale
and deeply rooted relationships, we work to strengthen global food
security, increase sustainability where we operate, and help
communities prosper. As the world’s leader in oilseed processing
and a leading producer and supplier of specialty plant-based oils
and fats, we value our partnerships with farmers to bring quality
products from where they’re grown to where they’re consumed. At the
same time, we collaborate with our customers to develop tailored
and innovative solutions to meet evolving dietary needs and trends
in every part of the world. Our Company has its registered office
in Geneva, Switzerland and its corporate headquarters in St. Louis,
Missouri. We have approximately 23,000 dedicated employees working
across approximately 300 facilities located in more than 40
countries.
About Chevron
Chevron is one of the world’s leading integrated energy
companies. We believe affordable, reliable and ever-cleaner energy
is essential to enabling human progress. Chevron produces crude oil
and natural gas; manufactures transportation fuels, lubricants,
petrochemicals and additives; and develops technologies that
enhance our business and the industry. We aim to grow our oil and
gas business, lower the carbon intensity of our operations and grow
lower carbon businesses in renewable fuels, carbon capture and
offsets, hydrogen and other emerging technologies. More information
about Chevron is available at www.chevron.com.
Website Information
We routinely post important information for investors on our
website, www.bunge.com, in the "Investors" section. We may use this
website as a means of disclosing material, non-public information
and for complying with our disclosure obligations under Regulation
FD. Accordingly, investors should monitor the Investors section of
our website, in addition to following our press releases, SEC
filings, public conference calls, presentations and webcasts. The
information contained on, or that may be accessed through, our
website is not incorporated by reference into, and is not a part
of, this document.
CAUTIONARY STATEMENTS RELEVANT TO
FORWARD-LOOKING INFORMATION FOR THE PURPOSE OF “SAFE HARBOR”
PROVISIONS OF THE PRIVATE SECURITIES LITIGATION REFORM ACT OF
1995
This news release contains forward-looking statements relating
to Chevron’s operations and energy transition plans that are based
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results to differ materially from those in the forward-looking
statements are: changing crude oil and natural gas prices and
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and epidemics, and any related government policies and actions;
disruptions in the company’s global supply chain, including supply
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changing economic, regulatory and political environments in the
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and international economic, market and political conditions,
including the military conflict between Russia and Ukraine, the war
between Israel and Hamas and the global response to these
hostilities; changing refining, marketing and chemicals margins;
actions of competitors or regulators; timing of exploration
expenses; timing of crude oil liftings; the competitiveness of
alternate-energy sources or product substitutes; development of
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and financial condition of the company’s suppliers, vendors,
partners and equity affiliates; the inability or failure of the
company’s joint-venture partners to fund their share of operations
and development activities; the potential failure to achieve
expected net production from existing and future crude oil and
natural gas development projects; potential delays in the
development, construction or start-up of planned projects; the
potential disruption or interruption of the company’s operations
due to war, accidents, political events, civil unrest, severe
weather, cyber threats, terrorist acts, or other natural or human
causes beyond the company’s control; the potential liability for
remedial actions or assessments under existing or future
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future environmental statutes and regulations, including
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regulatory measures related to greenhouse gas emissions and climate
change; the potential liability resulting from pending or future
litigation; the ability to successfully integrate the operations of
the company and PDC Energy, Inc. and achieve the anticipated
benefits from the transaction, including the expected incremental
annual free cash flow; the risk that Hess Corporation (Hess)
stockholders do not approve the potential transaction, and the risk
that regulatory approvals are not obtained or are obtained subject
to conditions that are not anticipated by the company and Hess;
uncertainties as to whether the potential transaction will be
consummated on the anticipated timing or at all, or if consummated,
will achieve its anticipated economic benefits, including as a
result of regulatory proceedings and risks associated with third
party contracts containing material consent, anti-assignment,
transfer or other provisions that may be related to the potential
transaction that are not waived or otherwise satisfactorily
resolved; the company’s ability to integrate Hess’ operations in a
successful manner and in the expected time period; the possibility
that any of the anticipated benefits and projected synergies of the
potential transaction will not be realized or will not be realized
within the expected time period; the company’s future acquisitions
or dispositions of assets or shares or the delay or failure of such
transactions to close based on required closing conditions; the
potential for gains and losses from asset dispositions or
impairments; government mandated sales, divestitures,
recapitalizations, taxes and tax audits, tariffs, sanctions,
changes in fiscal terms or restrictions on scope of company
operations; foreign currency movements compared with the U.S.
dollar; higher inflation and related impacts; material reductions
in corporate liquidity and access to debt markets; changes to the
company’s capital allocation strategies; the effects of changed
accounting rules under generally accepted accounting principles
promulgated by rule-setting bodies; the company’s ability to
identify and mitigate the risks and hazards inherent in operating
in the global energy industry; and the factors set forth under the
heading “Risk Factors” on pages 20 through 26 of the company’s 2023
Annual Report on Form 10-K and in subsequent filings with the U.S.
Securities and Exchange Commission. Other unpredictable or unknown
factors not discussed in this news release could also have material
adverse effects on forward-looking statements.
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version on businesswire.com: https://www.businesswire.com/news/home/20240304213899/en/
Grace Larkey grace.larkey@chevron.com (515) 766-8524
Bunge News Bureau news@bunge.com (914) 272-0297
Grafico Azioni Bunge Global (NYSE:BG)
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Da Dic 2024 a Gen 2025
Grafico Azioni Bunge Global (NYSE:BG)
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