CVR Energy boosts $6.4 million profit from RIN sales

May 1, 2017 |

In New York, CVR Energy booked a $6.4 million profit from RIN sales during Q1 compared to $43.1 million spent on buying RINs during the same period last year despite RINs costing about a third less this year at an average of 53 cents during the quarter. The company said in its quarterly guidance that it expects full year RIN costs to be similar to last year’s at around $170 but its CEO didn’t comment on last week’s earnings call how it justified that estimate if it made a profit on RINs rather than costs.

Category: Fuels

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