In Washington, Valero has petitioned the Environmental Protection Agency to require rack sellers be the compliant party for blending biofuels under the Renewable Energy Directive. Doing so would reduce the economic burden on refiners. The company sought to get the change made via the courts in February in two separate cases but has now gone […]
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In Texas, Valero reported that it expects ethanol margins to improve during the second quarter after having fallen to 35 cents per gallon during Q1, down from 43 cents during Q1 2015. The lower margins cut Q1 adjusted operating income for the ethanol segment to $9 million compared to $12 million the year prior. Hopes […]
In Washington, Valero has followed suit by filing suit against the Environmental Protection Agency in the U.S. Court of Appeals saying the RFS unfairly favors some oil refiners while punishing others. In a separate filing, the company also sought the blending mandates for 2007 and 2010 be reopened and revisited. With the EPA using a […]
In Texas, Valero has been hit hard by weakening ethanol margins with its ethanol segment’s operating profit slipping to $37 million during the fourth quarter from $154 million the year previously. With its refining margins holding flat, the weaker ethanol margins had a strong impact on the overall business with overall earnings down 74% at […]
In Texas, Valero is on the hunt for acquisitions, not only in the refining space but also in biofuels. The company’s biofuels assets performed well last year but now that a bumper corn crop is expected, mixed with poor blending economics due to low gasoline prices, some ethanol producers may find themselves in a pinch […]
In Texas, Valero is looking to export ethanol for the first time, leasing storage space at St. Rose, Louisiana in preparation for exports to Asia and Brazil. The company allegedly already began thinking about exports when it bought and revived a 110-million-gallon plant in Mount Vernon, Indiana, last year from Aventine.
In Texas, Valero says it boosted its ethanol production during the first quarter of 2015 to 3.8 million gallons per day, up 681,000 gallons per day compared to the same period in 2014, yet doing so had a negative impact on its margins—just $12 million of operating income for its ethanol segment compared to $243 […]
In Indiana, the second Valero ethanol plant in a week has caught fire. The facility located in Montgomery County has suffered major damage to the western section of the plant where the dryer area apparently caught fire. It took firefighters five hours to put out all of the hotspots. No injuries were recorded.
In Ohio, a fire broke out on Monday afternoon in a silo located at the Valero ethanol plant in Bloomingburg. Several nearby homes within a 1,500 foot radius of the plant were evacuated. The company was flying up experts from Texas in a private jet to investigate the situation. Local firefighters weren’t sure about the […]
In Indiana, Valero Energy has restarted production at its ethanol plant in Indiana, shuttered more than two years ago. Valero purchased the plant in March from Illinois-based Aventine Renewable Energy for $34 million. The plant is expected to raise Valero’s ethanol production to 1.3 billion gallons annually, setting it up third in ethanol production behind […]