Philips 66 Makes Remaining Funding Resolution to Convert San Francisco Refinery to Renewable Gasoline Facility – Philips 66

It is going to be one of many largest services of its form on the planet; Business operations are anticipated to start within the first quarter of 2024

HOUSTON (BUSINESS WIRE) – Philips 66 (NYSE:PSX) made a last funding resolution Wednesday to maneuver ahead with Rodeo Renewed, which is able to remodel its San Francisco refinery in Rodeo, Calif., into one of many world’s largest renewable fuels. undertaking to transform. services. The undertaking, which just lately acquired approval from Contra Costa County, is predicted to value roughly $850 million and start business operation within the first quarter of 2024.

“Rodeo Renew performs a serious function in serving to us scale back our carbon footprint as we proceed to offer dependable, reasonably priced vitality,” mentioned Greg Garland, President and CEO, Philips 66. “This can be a undertaking that can assist meet rising demand for low-carbon fuels, protect jobs and assist California in reaching its local weather objectives. It’s a nice instance of how Philips 66 is a sustainable vitality supply.” Making significant investments sooner or later that may create long-term worth for our shareholders.”

Upon completion of the rodeo refurbishment, the transformed facility will not course of crude oil and can as a substitute produce an preliminary 800 million gallons per yr (over 50,000 barrels per day) of renewable transportation gas from waste oils, fat, Grease and vegetable oils might be used. Diesel, renewable gasoline and sustainable aviation gas. The manufacturing of those fuels is estimated to cut back lifecycle carbon emissions by about 65% – the equal of eradicating 1.4 million vehicles from California’s roads annually. Rodeo Renewed can be anticipated to chop on-site norm pollutant emissions by 55% and use 160 million gallons of water per yr.

The scope of the undertaking consists of the development of pre-treatment items and the reuse of current hydrocarbon items to allow the manufacturing of renewable fuels. The transformed facility will leverage its versatile logistics infrastructure to safe renewable feedstocks from native, home and worldwide sources and provide renewable fuels to California and different markets.

The power conversion will create 500 development jobs and protect greater than 650 jobs, together with full-time workers and contractors. It’s set to assist the state meet its demand for transportation gas whereas serving to it obtain its environmental objectives.

Philips 66. about

Philips 66 (NYSE:PSX) manufactures, transports and markets the merchandise that drive the worldwide financial system. The diversified vitality firm’s portfolio consists of midstream, chemical compounds, refining and advertising and specialty companies. Headquartered in Houston, Philips 66 has workers from around the globe who’re dedicated to offering vitality and bettering lives safely and reliably whereas pursuing a low-carbon future. For extra info, go to or comply with @Phillips66Co on LinkedIn or Twitter,


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Jeff Dietert (investor)


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Shannon Holly (investor)


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Thaddeus Herrick (media)


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