04.26.2024
P66 Rodeo to begin producing SAF in Q3
Phillips 66 brought its long-awaited Rodeo Renewable Energy Complex online during the first quarter of 2024, but it is not producing sustainable aviation fuel (SAF) yet, the company said...
RIN Market Looks to EPA and White House for Direction
RIN values continue to fluctuate while the market attempts to balance conflicting signals regarding renewable volume obligations and speculation surrounding pending relief for refiners. Biodiesel and ethanol RINs consolidated slightly lower on Thursday after moving higher in consecutive sessions. The biodiesel 2021 RIN (B21) settled at $1.73 with the ethanol 2021 (E21) RIN and $1.65½.
The spread between the two RIN classes continues to hold near seven cents, indicating that the market may have concerns regarding ethanol’s ability cover its portion of the 2021 RVO, whatever that RVO might end up being. The spread had widened recently to 17 cents after the White House indicated it might provide some RIN relief for merchant refiners. However, the spread tightened again as politicians and lobbyists encouraged the president to stay the course on biofuel blending.
The…