GHG Emissions, Industrial, Sourcing Renewables - May 12, 2022
Phillips 66 to Convert Refinery to a Renewable Fuels Facility
Phillips 66 is moving forward with Rodeo Renewed, the project to convert its San Francisco Refinery in Rodeo, California, into a renewable fuels facility. The project, which recently received approval from Contra Costa County, is expected to cost approximately $850 million and the company will begin commercial operations in the first quarter of 2024.
“Rodeo Renewed stands to play a major role in helping us lower our carbon footprint as we continue to provide reliable, affordable energy,” said Greg Garland, Chairman and CEO of Phillips 66, in a statement. “This is a project that will help meet growing demand for lower-carbon fuels, preserve jobs and support California in achieving its climate goals. It is a great example of how Phillips 66 is making meaningful investments in a sustainable energy future that can create long-term value for our shareholders.”
The converted facility will no longer process crude oil and instead use waste oils, fats, greases, and vegetable oils to produce an initial 800 million gallons per year (over 50,000 barrels per day) of renewable transportation fuels, including renewable diesel, renewable gasoline, and sustainable aviation fuel. Production of these fuels is projected to reduce lifecycle carbon emissions by approximately 65% and is also expected to cut criteria pollutant emissions at the site by 55% and water use by 160 million gallons per year.