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HollyFrontier Q1 RINs cost $45 mln; sees $30-$35 mln in Q2 cost

Reuters - UK Focus

NEW YORK (Frankfurt: HX6.F - news) , May 6 (Reuters) - Independent refiner HollyFrontier Corp spent about $45 million for Renewable Identification Numbers (RINs), or ethanol blending credits, in the first quarter, the company said during a conference call on Tuesday.

Dallas-based HollyFrontier (Frankfurt: HL8.F - news) expects RINs cost in the second quarter to be $30 million to $35 million.

RINs are paper credits used to meet quotas for blending biofuel into gasoline and diesel. (Reporting by Robert Gibbons in New York; Editing by Jeffrey Benkoe)