Search Results for 'valero'
Tweet In Texas, Valero has written to the EPA administrator asking for an immediate waiver of the Renewable Fuel Standard’s ethanol blending requirements because of soaring RIN prices. The company says that lowering the mandate will lower the price of RINs, savings which would be passed on to the consumer.
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Tweet In Michigan, Valero has confirmed that it has pulled out of a proposed $232 million Mascoma second-generation facility in Kinross Charter Township. The project has received $120 million in public money for the wood-to-ethanol project. The project hasn’t yet broken ground despite construction having meant to start in 2011 with production coming online this […]
Tweet 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 […]
Tweet In Washington, Valero’s CEO told a Senate hearing that the Renewable Fuel Standard is “broken” and should be repealed and replaced with a better functioning policy. The blend wall has led to soaring RIN prices that oil refiners must pay because they say that ethanol can’t be blended any higher, so their backs are […]
Tweet In Texas, Valero is turning back on its ethanol plants because of high ethanol prices that will cost them two to three times as much as it did last year on RINs, perhaps as high as $750,000. The company is calling for either an end to the RFS or to make ethanol blenders responsible […]
Tweet In Ohio, Valero has restarted its ethanol facility in Bloomingburg and will restart its facility in Linden, Indiana now that corn futures have fallen by 16% combined with the fact that ethanol is trading at its highest price since August. Valero mothballed three of its 10 ethanol plants in June due to high corn […]
Tweet In Texas, Reuters reports that due to high ethanol inventories mixed with high corn prices, Valero had to idle three of its 10 ethanol plants during the fourth quarter of 2012. The trend follows along with others around the country mothballing due to high corn prices, with the Renewable Fuel Agency reporting that 34 […]
Tweet In Texas, Valero has released its quarterly financial results with a net income of $674. That represents a $0.90 drop per share to $1.21. According to Mike Ciskowski, Valero chief financial officer, the operating loss for the ethanol segment is attributed primarily to lower gross margins. High corn prices and excess ethanol inventories squeezed […]
Tweet In Indiana and Nebraska, Valero has announced that it will temporarily halt production at its ethanol plants in Linden and Albion until prices become viable again. On Tuesday, the company reported a $73 million loss in its biofuels business for the third quarter.