PSX - Phillips 66 Aims For The Top Of The Renewable Diesel Market

Phillips 66 (PSX) hinted at the end of July that the cancellation of its proposed 18,000 bpd renewable diesel facility in Washington due to a lack of "permit certainty" did not mean the end of its biofuel expansion plans. When Executive VP Bob Herman said during the Q2 earnings call that the company was "continuing to evaluate options on the West Coast, the Gulf Coast, and at our other plants", though, few investors could have expected that a major announcement was imminent. Phillips 66, which had already proposed to add 9,000 bpd of

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