Phillips 66 to convert San Francisco refinery into renewable fuels facility
Phillips 66 has made a final investment decision to move forward with Rodeo Renewed - a project to convert its San Francisco refinery into one of the world’s largest renewable fuels facilities.
The project, which recently received approval from Contra Costa County, is expected to cost approximately $850 million (€815 million) and 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.
“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.”
Upon completion of Rodeo Renewed, 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% — the equivalent of taking 1.4 million cars off California roads each year.
Rodeo Renewed is also expected to cut criteria pollutant emissions at the site by 55% and water use by 160 million gallons per year.
The project, which recently received approval from Contra Costa County, is expected to cost approximately $850 million (€815 million) and 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.
“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.”
Upon completion of Rodeo Renewed, 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% — the equivalent of taking 1.4 million cars off California roads each year.
Rodeo Renewed is also expected to cut criteria pollutant emissions at the site by 55% and water use by 160 million gallons per year.
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