Moody's comments on Chevron's acquisition of Renewable Energy Group
Announcement: Moody's comments on Chevron's acquisition of Renewable Energy Group. Global Credit Research- 28 Feb 2022. New York, February 28, 2022-- Moody's Investors Service commented that Chevron Corporation's agreement to acquire Renewable Energy Group, Inc. provides a substantial expansion of its renewable fuels capacity and represents a significant investment in its lower carbon business and tangible example of its energy transition strategy.Chevron is engaged in energy and chemicals operations. Upstream operations consist primarily of, among others, exploring for, developing and producing crude oil and natural gas; processing, liquefaction, transportation and regasification associated with liquefied natural gas, storage and marketing of natural gas; and a gas-to-liquids plant. Downstream operations consist primarily of, among others, refining crude oil into petroleum products; marketing of crude oil and refined products; and manufacturing and marketing of commodity petrochemicals, plastics for industrial uses and fuel and lubricant additives.
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