Aug 12 (Reuters) - U.S. refiner Phillips 66 said on Wednesday it plans to reconfigure its refinery in Rodeo, California to produce renewable fuels from used cooking oil, fats, greases and soybean oils.
The refiner expects the Rodeo Renewed project to produce 680 million gallons of renewable diesel, renewable gasoline and sustainable jet fuel annually. Combined with the production of renewable fuels from an existing project in development, the plant would produce more than 800 million gallons a year of renewable fuels, it said.
If approved by regulatory authorities, the production of renewable fuels is expected to begin in early 2024.
Refiners, including HollyFrontier Corp and CVR Energy, have been exploring opportunities to produce renewable diesel to save money on less profitable refineries and offset compliance costs associated with U.S. blending laws.
Phillips 66 also said it plans to shut down the Rodeo Carbon Plant and Santa Maria refining facility in Arroyo Grande, California in 2023 and that crude oil pipelines to the facilities will be taken out of service in phases starting that year. (Reporting by Arathy S Nair in Bengaluru; Editing by Krishna Chandra Eluri)
