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It was the sort of deal that is a shocker because it goes completely against the trend in the oil business.
The transaction in question was the recent announcement by
Phillips 66 (NYSE: PSX) that it was going to reverse integrate its renewable diesel operations. In doing so, the company sent two messages.
One, which it had already signaled but reaffirmed with the move, is that renewable diesel is extremely important to the U.S. refining sector.
The second is that to make renewable diesel, you need feedstocks. And companies with big renewable diesel plans need to worry about that.
Red-hot renewable diesel encouraging producers to buy into upstream supply chains
‘Reverse integration’ could be the name of the game, following significant move in soybeans by Phillips 66
0 805 5 minutes read tankage at the San Francisco Refinery’s Rodeo plant, with the refinery and future site of Rodeo Renewed in the background, along with San Pablo Bay. Photo: Phillips 66
(Editor’s note: Further information on the long-range plans at Rodeo Renewed has been added from initial publication.)
It was the sort of deal that is a shocker because it goes completely against the trend in the oil business.
The transaction in question was the recent announcement by Phillips 66 (NYSE: PSX) that it was going to “reverse integrate” its renewable diesel operations. In doing so, the company sent two messages.
Phillips 66 collaborates with airline to advance sustainable aviation fuel
4/27/2021
(BUSINESS WIRE) Phillips 66 and Southwest Airlines have signed a memorandum of understanding to advance the commercialization of sustainable aviation fuel, focusing on public awareness and research and development. The memorandum of understanding also sets the framework to explore a future supply agreement involving Phillips 66’s Rodeo Renewed project in California and highlights the commitment by both companies to a sustainable energy future.
Sustainable aviation fuel, or SAF, is a lower carbon-intensity fuel that can be produced from renewable feedstocks such as waste oils, fats, greases and vegetable oils. It is a drop-in fuel, meaning it can be used in existing aircraft engines and airport fuel infrastructure.
by Bernardo Fallas (Phillips 66) Phillips 66 and Southwest Airlines have signed a memorandum of understanding to advance the commercialization of sustainable aviation fuel, focusing on public awareness and research and development. The memorandum of understanding also sets the framework to explore a future supply agreement involving Phillips 66’s Rodeo Renewed project in California and highlights the commitment by both companies to a sustainable energy future.
Sustainable aviation fuel, or SAF, is a lower carbon-intensity fuel that can be produced from renewable feedstocks such as waste oils, fats, greases and vegetable oils. It is a drop-in fuel, meaning it can be used in existing aircraft engines and airport fuel infrastructure.
Phillips 66 signs MOU with Southwest Airlines to commercialize sustainable aviation fuel
By Mary Page Bailey |
April 23, 2021
Phillips 66 (Houston) and Southwest Airlines have signed a memorandum of understanding to advance the commercialization of sustainable aviation fuel, focusing on public awareness and research and development. The memorandum of understanding also sets the framework to explore a future supply agreement involving Phillips 66’s Rodeo Renewed project in California and highlights the commitment by both companies to a sustainable energy future.
Sustainable aviation fuel, or SAF, is a lower carbon-intensity fuel that can be produced from renewable feedstocks such as waste oils, fats, greases and vegetable oils. It is a drop-in fuel, meaning it can be used in existing aircraft engines and airport fuel infrastructure.