Vitol is “Lord of the RINs” as it wins during the RIN game

In Switzerland, Reuters is calling Vitol the Lord of the RINs because it has managed to make serious cash on RINs trading while several other oil competitors have had to eat any chance of profits thanks to soaring RIN prices and lack of ethanol blending.  Sources said the company bought a lot of RINs earlier in the year and then the Houston-based trading team sold well into the market as it headed higher towards the record of $1.45. Whereas many oil companies do not produce ethanol nor do they blend themselves, the world’s largest oil trader has invested heavily in blending facilities across the US as well as production in order to secure supply to achieve the RFS requirements.