Phillips 66 has committed more than $2.3 billion in capital expenditures to scale its renewable diesel and sustainable aviation fuel (SAF) output across four U.S. refinery sites. The company’s 75,000-barrel-per-day (bpd) Rodeo refinery expansion, completed in Q4 2023, now produces 375 million gallons of renewable diesel annually—enough to offset roughly 1.8 million metric tons of CO2. At its Humber refinery in the U.K., PSX is on track to commission a 150,000-ton-per-year SAF unit by mid-2025, targeting commercial deliveries to major European carriers. A third project at the Borger, Texas, refinery will convert 50,000 bpd of conventional naphtha streams into renewable blendstocks by early 2026, complementing a planned 400,000-barrel renewable feedstock storage hub at the Centralized Emissions Control Complex in Kansas by 2027.

In collaboration with Kinder Morgan, Phillips 66 has opened a 45-day second subscription window for the Western Gateway crude pipeline, following an initial season that secured 415,000 barrels per day (bpd) of commitments. The 525,000-bpd pipeline, which runs from the Bakken region in North Dakota to the Gulf Coast, has 110,000 bpd of remaining capacity. Interest from independent producers and integrated oil companies in locking in 10-year firm transportation agreements has already reached 80% of the available slots within the first two weeks. Final binding bids are due June 15, with service expected to commence in Q3 2026, enhancing takeaway flexibility for Bakken shippers and supporting PSX’s strategic objective to optimize feedstock logistics for its Gulf Coast refineries.