Phillips 66 Announces Major Milestone in Production of Renewable Diesel
02 April 2024 - 7:39AM
Business Wire
Phillips 66 (NYSE: PSX) today announced a major milestone in its
conversion of the San Francisco refinery into the Rodeo Renewable
Energy Complex, expanding commercial scale production of renewable
diesel.
The Rodeo Renewed project has progressed, with the facility now
processing only renewable feedstocks and producing approximately
30,000 barrels per day of renewable diesel. The Rodeo Renewable
Energy Complex is on track to increase production rates to more
than 800 million gallons per year (50,000 BPD) of renewable fuels
by the end of the second quarter, positioning Phillips 66 as a
leader in renewable fuels.
“We are proud to announce this significant achievement at our
Rodeo facility,” said Rich Harbison, Phillips 66 executive vice
president of Refining. “The project advances Phillips 66’s
long-held strategy to expand our renewable fuels production, lower
our carbon footprint, and provide reliable, affordable energy while
creating long-term value for our shareholders.”
Harbison added, “We’ve had strong execution to-date and are
fully focused on finalizing the project in the second quarter.”
The Rodeo Renewed project design also provides the capability of
producing renewable jet, a key component of sustainable aviation
fuel (SAF), expected to start production in the second quarter of
2024.
Phillips 66 made a final investment decision to move forward
with the Rodeo Renewed project in 2022, transforming the San
Francisco refinery into one of the world’s largest renewable fuels
facilities. As a world-class supplier of renewable fuels, the
converted facility leverages a premium geographic location, unique
processing infrastructure and flexible logistics to significantly
reduce lifecycle carbon emissions.
About Phillips 66
Phillips 66 (NYSE: PSX) is a leading diversified and integrated
downstream energy provider that manufactures, transports and
markets products that drive the global economy. The company’s
portfolio includes Midstream, Chemicals, Refining, and Marketing
and Specialties businesses. Headquartered in Houston, Phillips 66
has employees around the globe who are committed to safely and
reliably providing energy and improving lives while pursuing a
lower-carbon future. For more information, visit phillips66.com or
follow @Phillips66Co on LinkedIn.
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version on businesswire.com: https://www.businesswire.com/news/home/20240401443725/en/
Jeff Dietert (investors) 832-765-2297 jeff.dietert@p66.com
Owen Simpson (investors) 832-765-2297 owen.simpson@p66.com
Al Ortiz (media) 855-841-2368 al.s.ortiz@p66.com
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