Tag: Philadelphia Energy Solutions

SG Preston proposes to acquire 335,000 barrel-per-day PES refinery

SG Preston proposes to acquire 335,000 barrel-per-day PES refinery

August 25, 2019 |

In Pennsylvania, SG Preston told Reuters that it is potentially buying the Philadelphia Energy Solutions refinery, which was damaged in a fire in June. S.G. Preston would convert the refinery and 1,300 acres to produce renewable diesel, marine diesel, and jet fuel, mostly from waste fats and oils as the feedstock. “Financial terms of 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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EPA and RFS to be tested by potential refinery bankruptcy

EPA and RFS to be tested by potential refinery bankruptcy

January 21, 2018 |

In Pennsylvania, the potential bankruptcy of Philadelphia Energy Solutions refinery could test the RFS by seeing if the U.S. government can collect biofuels related debt from a company in pain. As the oldest and largest refiner on the East Coast, Philadelphia Energy Solutions likely is carrying a shortfall of RFS credits worth over $100 million, […]

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Philadelphia Energy Solutions sold 40 million RINs to raise cash

Philadelphia Energy Solutions sold 40 million RINs to raise cash

November 15, 2017 |

In Pennsylvania, Philadelphia Energy Solutions sold 40 million RINs in batches of 5 million each over the past several weeks in an effort to make millions that would help it pull itself out of bad financial straits. The company holds at least $550 million in debt that comes due next year, so selling RINs might […]

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