"EPA Gives Giant Refiner A 'Hardship' Waiver From Regulation"

"NEW YORK - The Environmental Protection Agency has exempted one of the nation’s largest oil refining companies, Andeavor, from complying with U.S. biofuels regulations - a waiver historically reserved for tiny operations in danger of going belly up, two sources familiar with the matter told Reuters.

The exemption, which applies to the three smallest of Andeavor’s ten refineries, marks the first evidence of the EPA freeing a highly profitable multi-billion dollar company from the costly mandates of the U.S. Renewable Fuel Standard. The law requires refiners to blend biofuels such as ethanol into gasoline or purchase credits from those who do such blending.

The decision, which has not been previously reported, raises the question of whether other big and profitable oil firms with small refineries - such as Exxon Mobil Corp, Chevron Corp and Phillips 66 - also have or could receive the waivers, which are granted by the EPA in secret."

Jarrett Renshaw and Chris Prentice report for Reuters April 3, 2018.

SEE ALSO:

"U.S. Biofuel Credits Fall On Refiner Exemption Report: Traders" (Reuters)