Chemoil to Pay $27 Million Under Fuel Credit Fraud Settlement

San Francisco-based fuel distributor Chemoil Corp. will pay a $27 million fine and retire $71 million in renewable fuel credits as part of a settlement announced Sept. 29 by the Justice Department and the Environmental Protection Agency.

According to the agencies, Chemoil exported at least 48.5 million gallons of biodiesel between 2011 and 2013 but failed to retire the more than 72 million renewable identification numbers (RINs) that were generated for the exported fuel.

RINs are credits created when a company produces or imports renewable fuel and can be traded or sold to refiners and fuel importers or exporters ...