Chevron, an integrated energy company, and Bunge North America, an operator of agribusiness and food ingredient company, agreed to form a joint venture in a $1.2bn deal. developing lower carbon intensity feedstocks. Financial terms were not disclosed. “As the world’s largest oilseed processor, we are pleased to expand our partnership with an energy industry leader to increase our participation in the development of next generation, renewable fuels. Together, we share a commitment to sustainability and reducing carbon in the energy value chain. This relationship with Chevron would enable Bunge to better serve our farmer customers by accessing demand in the growing renewable fuels sector,” Greg Heckman, Bunge CEO.