Energy and oil giants request RFS ‘small refinery’ waivers

April 15, 2018 |

In New York, super multinational energy companies Chevron Corp and Exxon Mobil are asking the U.S. EPA for exemptions to the RFS ‘small refinery’ obligations that are supposed to be reserved for small companies in financial distress, according to Reuters.

“The EPA has already issued an unusually 25 hardship waivers to small refineries in recent months, driving blending credit prices down and helping the oil industry reduce compliance costs,” an agency source told Reuters. However, the EPA won’t say who is getting those exemptions saying it would disclose private company information.

According to Reuters, “both Chevron and Exxon, among the world’s most profitable energy companies, have asked EPA for waivers for their smallest facilities – Chevron’s 54,500 barrel-per-day refinery in Utah and the Exxon’s 60,000 bpd refinery in Montana, two sources briefed on the matter told Reuters on condition of anonymity.”

As reported in The Digest earlier this month, the EPA has exempted several refineries owned by Andeavor, one of the biggest U.S. refining companies that posted $1.5 billion dollars in profit last year.

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Category: Producer News

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