Chemoil Agrees to Pay Civil Penalty of $27 Million and to Retire a Total of More Than $71 Million in Credits from Renewable Fuels Market Under Settlement with United States

The Department of Justice and the U.S. Environmental Protection Agency (EPA) and today announced a settlement with Chemoil Corporation that requires the company to retire 65 million renewable fuel credits to resolve alleged violations of the Renewable Fuel Standard (RFS) program.  The current market value of the credits — along with an additional 7.7 million renewable identification numbers (RINs) already retired by Chemoil in the lead up to this settlement — is more than $71 million.  Chemoil will also pay a $27 million civil penalty under the settlement, the largest in the history of the EPA’s fuel programs.