Please be advised the following letter from Cary Knuth on Chevron’s recent purchase of Renewable Energy Group, Inc. will be sent to our Marketer Principles later today.
Partners,
By now you’ve probably heard that Chevron is acquiring Renewable Energy Group, Inc. (REG), a leading provider of renewable fuels. This is an exciting investment for Chevron and demonstrates our continued commitment to deliver lower carbon intensity transportation fuels to our customers. It further demonstrates that you’ve chosen the right supplier, as our actions show that we are the partner of choice for the long term.
We strive to be a leader in efficient, lower carbon intensity production of traditional oil and gas, which we know will be in high demand today and for years to come. We also aim to grow the lower carbon businesses that we believe will be a bigger part of the future. It’s our simple and straightforward strategy – and it underscores our commitment to you, our partnership and the fuels our customers need.
This opportunity combines REG’s innovative people, their leading feedstock capabilities and their growing renewable fuels production with Chevron’s large manufacturing assets and leading marketing position. Upon completion, our combined capabilities can enhance our products and marketing offering.
Please note that the acquisition is subject to REG shareholder approval, regulatory approvals and other customary closing conditions. Until the transaction closes, our companies will continue to operate as separate companies.
If you have questions, I am always available. You can also reach out to your district sales manager or business consultant. We value you, our partnership and the role you play in helping us to deliver much-needed fuels and lubricants to our customers – now and in the future.
Best regards,
Cary Knuth
Director, Americas Lubricants
