Chevron completed the acquisition of Renewable Energy Group for $3.15bn.

Chevron, an integrated energy company, completed the acquisition of Renewable Energy Group, a producer and refiner of biofuels in the oil and gas industry, for $3.15bn. The transaction is expected to accelerate progress toward Chevron’s goal to grow renewable fuels production capacity to 100k barrels per day by 2030 and brings additional feedstock supplies and pre-treatment facilities. “This transaction delivers premium cash value to shareholders and will give us additional resources as we aim to accelerate growth and strengthen our collective ability to deliver the sustainable fuels our customers and the world need. Our employees’ hard work and dedication have built a fantastic renewable fuels company and made this transaction possible," CJ Warner, REG President & CEO.