Pacific Ethanol cuts production amid high inventories and weak margins – CEO

Source: By Jarrett Renshaw, Reuters • Posted: Friday, November 2, 2018

NEW YORK, Nov 1 (Reuters) – Pacific Ethanol Inc cut biofuel production by 10 percent amid high inventories and weak margins, the company’s Chief Executive Neil Koehler told analysts on Thursday.

Pacific ethanol owns 9 ethanol plants with a combined production capacity of 605 million gallons a year. Other companies have made similar economic run cuts, but “not enough” to address high inventories, Koehler said. (Reporting By Jarrett Renshaw)