Phillips 66 has made a final investment decision to move forward with Rodeo Renewed, the project to convert its San Francisco Refinery in Rodeo, Calif., 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 and begin commercial operations in first quarter 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.”
The converted facility will no longer process crude oil and instead use waste oils, fat
