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Chevron Puts Workers on Furlough at Idled German Biofuels Plant [Financial Post (Toronto, Ontario, Canada)]

Chevron Corporation (CVX)  More Company Research Source: Financial Post
Last chevron corporation earnings: 5/1 06:45 am Check Earnings Report
US:NYSE Investor Relations: chevron.com/investors
Author of the article: You can save this article by registering for free here . Or sign-in if you have an account. (Bloomberg) — Chevron Corp. is putting workers on furlough at a German biodiesel plant that has been out of operation because of oversupply in the market. The biodiesel plant in Oeding, in northern Germany, has been idled for a few months, a spokesman said by phone. “This decision was made in response to a challenging margin environment, primarily caused by alleged fraud and dumping of Chinese biodiesel flooding the market,” the company said in an email. Article content The move is the latest twist as a surge in Chinese biodiesel exports to the Europe Union has come amid increasing concerns that producers in the bloc are being undercut by companies in Asia that are mixing fuels with cheaper feedstocks and mislabeling them. Selling biofuels in the EU is attractive because of incentives there, with fuels made from waste products fetching higher prices than thos [Read more]
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Stockreport

Chevron Puts Workers on Furlough at Idled German Biofuels Plant [Financial Post (Toronto, Ontario, Canada)]

Chevron Corporation  (CVX) 
More Company Research Source: Financial Post
Last chevron corporation earnings: 5/1 06:45 am Check Earnings Report
US:NYSE Investor Relations: chevron.com/investors
Author of the article: You can save this article by registering for free here . Or sign-in if you have an account. (Bloomberg) — Chevron Corp. is putting workers on furlough at a German biodiesel plant that has been out of operation because of oversupply in the market. The biodiesel plant in Oeding, in northern Germany, has been idled for a few months, a spokesman said by phone. “This decision was made in response to a challenging margin environment, primarily caused by alleged fraud and dumping of Chinese biodiesel flooding the market,” the company said in an email. Article content The move is the latest twist as a surge in Chinese biodiesel exports to the Europe Union has come amid increasing concerns that producers in the bloc are being undercut by companies in Asia that are mixing fuels with cheaper feedstocks and mislabeling them. Selling biofuels in the EU is attractive because of incentives there, with fuels made from waste products fetching higher prices than thos [Read more]
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