Marathon Petroleum spent $75 mln on ethanol credits in Q4 -CEO

HOUSTON Thu Oct 31, 2013 10:44am EDT

HOUSTON Oct 31 (Reuters) - Marathon Petroleum Corp spent $25 million per month, or a total of $75 million, on ethanol credits in the third quarter to comply with U.S. renewable fuel standards policy, Chief Executive Gary Heminger told analysts on Thursday.

The total bill was up from $60 million in the second quarter.

A couple walks along the rough surf during sunset at Oahu's North Shore, December 26, 2013. REUTERS/Kevin Lamarque

Find your dream retirement town

Florida? Hawaii? Reuters has teamed up with Zillow to give you the power to customize a list of your best places to retire.  Video | Full Article