Exxon, Chevron set sights firmly on renewable fuels
Chevron's offices in Los Angeles, California, the US. Pictrue: REUTERS/LUCY NICHOLSON
They both have huge refining divisions that contribute heavily to their overall carbon emissions. The companies have been criticised for a less urgent approach to renewable investments than European rivals Royal Dutch Shell and TotalEnergies, and have generally spent a lower percentage of their capital than those companies on green technologies.
A team was created at Exxon’s request within ASTM International, international standards and testing organisation, to determine the capability of refiners to co-process up to 50% of certain types of bio-feedstocks to produce SAF, according to the sources.Chevron is looking how to run those feedstocks through its fluid catalytic crackers , petroleum-producing units that are generally the largest component of refining facilities.
If approved by the EPA and Carb, Chevron would be able to produce and generate credits for renewable petroleum, a source familiar with the matter said. That product is not yet commercially available, but can reduce carbon dioxide emissions by 61% to 83%, depending which feedstock is used, according to the California Energy Commission.
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