Phillips 66’s Rodeo Renewable Energy Complex has completed full conversion and reached full production capacity of 50,000 bbl/d—equivalent to about 800 million gallons per year—prior to the end of second quarter 2024.
The Rodeo complex will now produce renewable diesel and sustainable aviation fuel (SAF), among other products, Phillips 66 said June 26 in a press release.
In addition to supplying California markets, the complex will provide renewable diesel to other areas along the West Coast, Phillips 66 said.
The announcement marks a significant step in Phillips 66’s commitment to playing a meaningful role in the energy transition and provide customers with lower-carbon solutions.
“The facility running at full capacity supports the growing demand for renewable fuels, lowers our carbon footprint and creates long-term value for our shareholders,” Rich Harbison, Phillips 66 executive vice president of refining, said in the release.
The Rodeo complex includes new pre-treatment units that process lower carbon intensity feedstocks, such as used cooking oil, fats, greases and vegetable oil. It began producing approximately 30,000 bbl/d of renewable fuel at the end of the first quarter of 2024.
RELATED
Phillips 66 Weighs Divestments, Targets Renewable Fuel Increase
Recommended Reading
Dividends Declared in the Week of Sept. 2
2024-09-06 - Here is a compilation of dividends declared by select E&Ps for third-quarter 2024.
ConocoPhillips Adds Connors to Board
2024-09-05 - Nelda J. Connors will serve on the audit and finance committee and public policy and sustainability committee of ConocoPhillips’ board.
Crescent Prices Additional Private Placement on Senior Notes Due 2033
2024-09-05 - Crescent Energy said it intends to use the net proceeds from this offering to repay a portion of the amounts outstanding under its revolving credit facility.
CSW Increases Common Stock Offering to Repay Debt
2024-09-05 - CSW Industries increased its offering of common stock from 1 million shares to 1.1 million shares at $285 per share.
Baker Hughes Updates Leadership to Deliver on Growth Strategy
2024-09-04 - Baker Hughes’ updates to its leadership team will go into effect on Oct. 1.