Sources: Swiss trading firm is a major player in RINs market

11/7/2013 | Reuters

Switzerland-based trading group Vitol, which has a team of traders in Houston, was one of the biggest winners in the Renewable Identification Numbers market earlier this year, when prices surged to almost $1.45 from just 5 cents in December 2012, sources said. Despite not owning any refineries or fueling stations in the U.S., Vitol traded heavily in RINs, according to market players. Vitol "buys and sells RINs on a regular basis" because it has Renewable Fuel Standard obligations to fulfill, said spokeswoman Andrea Schlaepfer, without revealing whether the company makes money from it.

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