Phillips 66’s Rodeo Renewable Energy Complex completed full conversion and reached full production capacity of 50,000 bbl/d. (Source: Shutterstock)
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
Sheffield: E&Ps’ Capital Starvation Not All Bad, But M&A Needs Work
2024-10-04 - Bryan Sheffield, managing partner of Formentera Partners and founder of Parsley Energy, discussed E&P capital, M&A barriers and how longer laterals could spur a “growth mode” at Hart Energy’s Energy Capital Conference.
SLB Earnings Rise, But Weakened 4Q and 2025 Ahead Due to Oil Glut
2024-10-22 - SLB, like Liberty Energy, revised guidance lower for the coming months, analysts said, as oilfield service companies grapple with concerns over an oversupplied global oil market.
Post Oak Backs Third E&P: Tiburon Captures Liquids-rich Utica Deal
2024-10-15 - Since September, Post Oak Energy Capital has backed new portfolio companies in the Permian Basin and Haynesville Shale and made an equity commitment to Utica Shale E&P Tiburon Oil & Gas Partners.
Quantum’s VanLoh: New ‘Wave’ of Private Equity Investment Unlikely
2024-10-10 - Private equity titan Wil VanLoh, founder of Quantum Capital Group, shares his perspective on the dearth of oil and gas exploration, family office and private equity funding limitations and where M&A is headed next.
Companies Take Advantage of ABSs to Finance Acquisitions
2024-10-17 - Some companies have taken advantage of asset-backed securitizations to monetize some of their cash flows and better position themselves for a sale.
Comments
Add new comment
This conversation is moderated according to Hart Energy community rules. Please read the rules before joining the discussion. If you’re experiencing any technical problems, please contact our customer care team.