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Chevron (CVX) Unit & Bunge Acquire Argentina Oilseed Business
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Chevron Renewable Energy Group, a subsidiary of Chevron Corporation (CVX - Free Report) , and Bunge Limited (BG - Free Report) , a renowned global food and agribusiness company, have announced the acquisition of Chacraservicios, a seed business based in Argentina. This move aims to expand both companies' supply chains and meet the increasing demand for lower-carbon renewable feedstocks. By adding Chacraservicios to their global operations, Chevron and Bunge are strengthening their commitment to sustainable solutions and contributing to a lower-carbon energy future.
About Chacraservicios and Its Contribution to Renewable Energy
Chacraservicios, founded in 2003 and previously owned by the Italian-based Adamant Group, is focused on the cultivation of Camelina Sativa, a cover crop known for its high oil content. This oilseed crop offers numerous benefits to farmers, consumers and the environment. Camelina Sativa provides an alternative source of oil for various industries, including renewable fuel production.
Strengthening Supply Chains
The acquisition of Chacraservicios by Chevron's Renewable Energy Group and Bunge adds a novel oil source to their global supply chains. This strategic move is in response to the growing demand for lower-carbon renewable feedstocks, as the companies aim to meet the evolving needs of the market. By expanding their access to sustainable raw materials, Chevron and Bunge can enhance their production capabilities and contribute to a greener energy sector.
Advancing Renewable Fuel Development
Chevron's Renewable Energy Group and Bunge are not only focused on strengthening their supply chains but also on advancing the development of next-generation renewable fuels. This strategic partnership opens up opportunities for both companies to explore innovative solutions in the field of renewable energy. By leveraging their expertise and resources, Chevron and Bunge aim to contribute to the renewable fuels market’s growth and promote a more sustainable energy future.
Commitment to Carbon-Intensity Reduction
Chevron and Bunge prioritize carbon reduction across their businesses, and the acquisition of Chacraservicios aligns with their commitment to lowering carbon-intensity feedstocks. By investing in this new oilseed crop, both companies take another step toward expanding their portfolio of sustainable solutions and meeting the increasing demand for renewable fuels.
Through their collaborative efforts, Chevron's Renewable Energy Group and Bunge aim to develop and promote environmentally friendly alternatives to traditional energy sources.
Conclusion
Chevron's Renewable Energy Group and Bunge's acquisition of Chacraservicios demonstrate their dedication to sustainable practices and the development of renewable fuels. By adding Chacraservicios' camelina oilseed cultivation to their supply chains, both companies are contributing to the renewable energy sector’s growth.
With a focus on carbon reduction and a commitment to innovation, Chevron and Bunge are poised to play a significant role in shaping a lower-carbon energy future.
Evolution Petroleum is worth $268.48 million. EPM currently pays dividends of 48 cents per share or 5.95% on an annual basis.
The company currently has a forward P/E ratio of 7.30. In comparison, its industry has an average forward P/E of 10.40, which means EPM is trading at a discount to the group.
Global Partnersis valued at $1.04 billion. In the past year, its units have risen 44.8%.
The partnership currently has a forward P/E ratio of 9.01. In comparison, its industry has an average forward P/E of 14.10, which means that GLP is trading at a discount to the group.
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Chevron (CVX) Unit & Bunge Acquire Argentina Oilseed Business
Chevron Renewable Energy Group, a subsidiary of Chevron Corporation (CVX - Free Report) , and Bunge Limited (BG - Free Report) , a renowned global food and agribusiness company, have announced the acquisition of Chacraservicios, a seed business based in Argentina. This move aims to expand both companies' supply chains and meet the increasing demand for lower-carbon renewable feedstocks. By adding Chacraservicios to their global operations, Chevron and Bunge are strengthening their commitment to sustainable solutions and contributing to a lower-carbon energy future.
About Chacraservicios and Its Contribution to Renewable Energy
Chacraservicios, founded in 2003 and previously owned by the Italian-based Adamant Group, is focused on the cultivation of Camelina Sativa, a cover crop known for its high oil content. This oilseed crop offers numerous benefits to farmers, consumers and the environment. Camelina Sativa provides an alternative source of oil for various industries, including renewable fuel production.
Strengthening Supply Chains
The acquisition of Chacraservicios by Chevron's Renewable Energy Group and Bunge adds a novel oil source to their global supply chains. This strategic move is in response to the growing demand for lower-carbon renewable feedstocks, as the companies aim to meet the evolving needs of the market. By expanding their access to sustainable raw materials, Chevron and Bunge can enhance their production capabilities and contribute to a greener energy sector.
Advancing Renewable Fuel Development
Chevron's Renewable Energy Group and Bunge are not only focused on strengthening their supply chains but also on advancing the development of next-generation renewable fuels. This strategic partnership opens up opportunities for both companies to explore innovative solutions in the field of renewable energy. By leveraging their expertise and resources, Chevron and Bunge aim to contribute to the renewable fuels market’s growth and promote a more sustainable energy future.
Commitment to Carbon-Intensity Reduction
Chevron and Bunge prioritize carbon reduction across their businesses, and the acquisition of Chacraservicios aligns with their commitment to lowering carbon-intensity feedstocks. By investing in this new oilseed crop, both companies take another step toward expanding their portfolio of sustainable solutions and meeting the increasing demand for renewable fuels.
Through their collaborative efforts, Chevron's Renewable Energy Group and Bunge aim to develop and promote environmentally friendly alternatives to traditional energy sources.
Conclusion
Chevron's Renewable Energy Group and Bunge's acquisition of Chacraservicios demonstrate their dedication to sustainable practices and the development of renewable fuels. By adding Chacraservicios' camelina oilseed cultivation to their supply chains, both companies are contributing to the renewable energy sector’s growth.
With a focus on carbon reduction and a commitment to innovation, Chevron and Bunge are poised to play a significant role in shaping a lower-carbon energy future.
Zacks Rank and Key Picks
Currently, CVX carries a Zacks Rank #3 (Hold).
Some better-ranked stocks for investors interested in the energy sector are Evolution Petroleum (EPM - Free Report) and Global Partners (GLP - Free Report) ,sporting a Zacks Rank #1 (Strong Buy) at present. You can see the complete list of today’s Zacks #1 Rank stocks here.
Evolution Petroleum is worth $268.48 million. EPM currently pays dividends of 48 cents per share or 5.95% on an annual basis.
The company currently has a forward P/E ratio of 7.30. In comparison, its industry has an average forward P/E of 10.40, which means EPM is trading at a discount to the group.
Global Partnersis valued at $1.04 billion. In the past year, its units have risen 44.8%.
The partnership currently has a forward P/E ratio of 9.01. In comparison, its industry has an average forward P/E of 14.10, which means that GLP is trading at a discount to the group.