Adds info on SAF, other details.
US refiner Philips 66 is weighing producing renewable fuels in the northeastern US if more states adopt low carbon fuel standards.
The company is considering producing renewables at its 258,500 b/d Bayway refinery in Linden, New Jersey, if state mandates are approved and implemented, vice president of renewables Suresh Vaidyanathan said on the sidelines of the Argus Global Crude Summit Americas in Houston, Texas, on Friday. The renewables could be processed along with traditional fuels at the refinery.
Bayway is the largest refinery on the US Atlantic coast.
Phillips 66 could possibly produce renewable diesel or sustainable aviation fuel (SAF) at the refinery, depending on the specifics of the state laws, Vaidyanathan said.
The company said it is "constantly evaluating all of our assets for lower carbon opportunities."
New Jersey senators last year proposed legislation to establish what could be the first US east coast clean fuels mandate.
In New York, bills to establish a clean fuel standard now count the majority of the state assembly and senate as co-sponsors. But similar proposals have stalled in prior years, in part because some progressive lawmakers worry about potentially boosting biofuels at the expense of electrification. New York state agencies are separately studying the potential impacts of a "clean transportation standard" but have given no indication of when they could release their findings.
Phillips 66's Rodeo renewables plant in California reported throughputs of 42,000 b/d in the fourth quarter of 2024 after beginning full operations last year.
Phillips 66 said today it is producing SAF at the Rodeo refinery.
United Airlines announced in December that it agreed to buy SAF from Phillips 66's Rodeo facility as soon as the product came online.
Phillips 66's renewable fuels business logged a $28mn profit in the fourth quarter of 2024 driven by higher margins at the Rodeo complex and stronger international results.
