Valero expects to spend at least double this year on RINs

03/21/2013 | Lloyd's

Valero Energy could spend $500 million to $750 million on Renewable Identification Numbers this year to comply with the Renewable Fuel Standard, up from $250 million in 2012 and $230 million in 2011, according to information on the company's website. The recent uptick in RIN prices could be attributed to concerns that refiners might not meet their blending obligations because of the E10 blend wall, said Valero spokesman Bill Day. "It seems like there's a lot of nervousness in the market about the blend wall," he said.

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