Tag: PES

PES held short position on RINs three months before announcing closure

PES held short position on RINs three months before announcing closure

June 27, 2019 |

In Pennsylvania, Reuters reports that during the two months leading up to the Wednesday announcement that Philadelphia Energy Solutions would close, claiming that the decision was due to a fire, two sources said that the country had built up as much as 90 million dollars’ worth of short positions in RINs over the past several […]

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Biogas projects popping up everywhere – are they the magical solution we’ve been looking for?

Biogas projects popping up everywhere – are they the magical solution we’ve been looking for?

September 9, 2018 |

It’s not just you…it’s true, talk of gas is popping up everywhere. But it’s no longer a ssshh’d conversation whispered in the bathroom of a Mexican restaurant after eating too many bean burritos. It’s mainstream conversation now thanks to the growth of biogas around the world. And thanks to rainbow-farting unicorn memes of course. While […]

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RNG teams with PES on $120 million MSW biogas project

RNG teams with PES on $120 million MSW biogas project

August 29, 2018 |

In Pennsylvania, RNG Energy Solutions and Philadelphia Energy Solutions Refining and Marketing LLC announced they have completed and executed several contracts including a long-term renewable natural gas sales agreement and site lease agreement to build a state-of-the-art anaerobic digester facility. The facility will be named Point Breeze Renewable Energy (PBRE) and located at the PES […]

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PES lauds court decision approving DOJ’s RIN settlement deal

PES lauds court decision approving DOJ’s RIN settlement deal

April 5, 2018 |

In Pennsylvania, Philadelphia Energy Solutions lauded the outcome of Wednesday’s court hearing confirming the settlement reached with the United States Department of Justice on behalf of the Environmental Protection Agency. “We are pleased with the Court’s decision today to approve the agreement to alleviate a portion of PES’s RINs burden from 2017, and appreciate the […]

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PES deal on RINs could cut ethanol mandate by 2%

PES deal on RINs could cut ethanol mandate by 2%

March 28, 2018 |

In Washington, Platts reports that consultants the Brattle Group believe if Philadelphia Energy Solutions is allowed to forego half of its RIN buy for 2016 and 2017 as part of a proposed settlement with the Department of Justice, as much as 2% of the ethanol blending mandate would shrink and RIN prices would fall accordingly […]

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EPA allows PES off the RIN hook with only half of its compliance met

EPA allows PES off the RIN hook with only half of its compliance met

March 13, 2018 |

In Washington, Reuters reports that in a move protested by the ethanol industry, the Environmental Protection Agency has granted Philadelphia Energy Solutions a reprieve in its RIN compliance requirements, cutting them by about half to the 210 million RINs the company had already purchased compared to the 467 million required for 2016 and 2017. The […]

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Trump calls meeting to discuss biofuels policy changes after PES bankruptcy

Trump calls meeting to discuss biofuels policy changes after PES bankruptcy

February 25, 2018 |

In Washington, D.C., President Trump is calling a meeting this Tuesday to talk about potential changes to biofuels policy after Pennsylvania-based refiner, Philadelphia Energy Solutions, blamed RFS and regulations for its bankruptcy last month. The meeting will include Republican Senators like Ted Cruz of Texas, Chuck Grassley and Joni Ernst of Iowa, as well as […]

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Senator Ted Cruz tells PES refinery workers their woes are due to RIN speculation

Senator Ted Cruz tells PES refinery workers their woes are due to RIN speculation

February 21, 2018 |

In Pennsylvania, Texas Senator Ted Cruz told hundreds of refinery workers at a Philadelphia Energy Systems refinery that speculators were responsible for making the Renewable Fuels Standard unworkable, saying that fixing the RIN system would support American workers and their jobs. The Senator, PES and others allege that RIN compliance requirements under the RFS pushed […]

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