Final Investment Decision Made for Rodeo Renewed Project in California

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Final investment decision has been made for the US$850 million Rodeo Renewed project, which involves the transformation of San Francisco’s Phillips 66 refinery in Rodeo, California into one of the world’s largest renewable fuels facilities in the world. The energy company has already received approval from Contra Costa County to move forward with the conversion.

Phillips 66 is embarking on the Rodeo Renewed project with the aim of reducing its carbon footprint while providing affordable and reliable energy. The new facility will use waste oils, greases, greases and vegetable oils to produce up to 800 million gallons of renewable transportation fuels per year, which equates to more than 50,000 barrels per day. Renewable diesel, renewable and sustainable gasoline aviation fuel is one of the products expected from the facility.

Scope of the Rodeo Renewed Project

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During the Rodeo Renewed project, pre-treatment units will be built and will also cover the reconfiguration of existing hydrocracking units to enable the production of renewable fuels. The facility will be irreversibly reallocated to renewable fuel production and crude oil processing will no longer be possible in the future.

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Commercial operations are expected to start by the first quarter of 2024, which will lead to the creation of several employment opportunities, including approximately 500 construction jobs and more than 650 permanent jobs. Other benefits of the Rodeo Renewed project include a life cycle reduction in carbon emissions of nearly 65%, which is equivalent to removing 1.4 million cars from California roads each year. The converted facility will reduce water consumption by 160 million gallons per year, as well as on-site criteria pollutant emissions by 55%.

The Rodeo Renewed project site also offers a flexible logistics infrastructure, which will easily secure renewable feedstocks from national, local and international sources and eventual supply of renewable fuels from California and other markets.

The CEO and Chairman of Phillips 66, Greg Garland applauded the Rodeo Renewed project, saying the converted facility would help meet growing demand for low-carbon fuels, save jobs and ultimately help California meet its climate goals.

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