Decarbon Daily - Gulf Coast Hurricane + Low-carbon Investments
Inside this issue
Another hurricane comes to the Texas Louisiana Gulf Coast. Stay safe and dry.
As the Gulf Coast braces for another storm, energy companies are rapidly strengthening their emerging energy stories by divesting carbon-intensive assets for lower-carbon alternatives. The latest in this trend is Phillips 66.
“The U.S. refining business in the future is going to be smaller, not bigger,” CEO Greg Garland said earlier this month while laying out Phillips 66’s plans to expand its supply of lower-carbon fuels and components for electric car batteries.
Phillips 66 has four key business units midstream, refining, chemicals, and marketing & specialties. The recovery of oil and gas prices over the last 12 months has helped the company improve cash flow from operations and continue investing in renewable fuels and lower-carbon solutions.
Phillips 66 is advancing its plans at the San Francisco Refinery in Rodeo, California, to meet the growing demand for renewable fuels. The hydrotreater conversion reached full rates of 8,000 BPD (120 million gallons per year) of renewable diesel in July. Subject to permitting and approvals, full conversion of the refinery is expected to be finished in early 2024. Upon completion, the facility will have over 50,000 BPD (800 million gallons per year) of renewable fuel production capacity. The conversion will reduce emissions from the facility and produce lower-carbon transportation fuels. Source: Phillips 66
In addition to the renewable fuels facilities, Phillips 66 is invested in a carbon-capture project in the UK and award-winning plastic recycling initiatives. The company will continue the journey toward lower-carbon solutions similar to other integrated energy companies.
Inside this Issue
⛈ U.S. Gulf Coast Energy Firms Face Another Hurricane Hit
❇️ Road to COP: Hydrogen Comes Faster Than You Think
💵 Chevron to Triple Low-carbon Investment
💔 The Hollow Promise of Net-zero Carbon Pledges
☀️ This Solar-powered Pavement Harvests Energy from Under Your Feet
♻️ The Landfill Group and LS Power Announce Renewable Natural Gas Project in Greenville County
Articles in this issue