US Bankruptcy Court OKs PES deal on lower RIN obligations

June 4, 2020 |

In Pennsylvania, the Philadelphia Inquirer newspaper reports that US Bankruptcy Court has greenlighted Philadelphia Energy Solution’s deal with the Environmental Protection Agency to only pay a fraction of its required RIN buy. The agreement stipulates the company only buy $10 million worth of RINs rather than the $35 million required under the Renewable Fuel Standard. In 2018, the company benefited from a similar deal when a bankruptcy-related agreement waived its $350 million RIN obligation completely.

Category: Fuels

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