Phillips 66 announced the full conversion of the Rodeo Renewable Energy Complex, expanding commercial-scale production and positioning the company as a leader in renewable fuels. The Rodeo facility in the San Francisco Bay Area increased rates to approximately 50,000 BPD (800 million barrels per year), reaching the company's goal of achieving full capacity by the second quarter of 2024. The announcement also marks a significant step in Phillips 66's commitment to play a meaningful role in the energy transition and provide customers with lower-carbon solutions.

The Rodeo complex includes new pre-treatment units that process lower carbon intensity feedstocks, such as used cooking oil, fats, greases and vegetable oil. It began producing approximately 30,000 BPD of renewable fuel at the end of the first quarter of 2024.