In Texas, Valero expects to spend more on RINs this year than already thought as the credits continue to rise in price. The company’s latest estimate for its 2013 spend is $600 million to $800 million, up from its previous expectation of $500 million to $750 million. Even though the company is trying to boost exports to reduce its RIN requirement, it doesn’t see focusing entirely on exports as a solution to the challenge.
More background on the story from the Digest
Category: Producer News