Phillips 66, REG abandon renewable diesel project in Washington state

Photo by Steve Jurvetson (Flickr) [CC BY 2.0 (http://creativecommons.org/licenses/by/2.0)], via Wikimedia Commons

January 21 (Renewables Now) - US energy manufacturing and logistics company Phillips 66 (NYSE:PSX) said today that, alongside partner Renewable Energy Group Inc (NASDAQ:REGI), it is discontinuing a project to build a large-scale renewable diesel plant in Washington.

The decision concerns a project in Ferndale that was originally announced in the autumn of 2018 and was supposed to produce 250 million gallons of renewable diesel per year upon completion. The parties noted that it would have been the largest such refinery on the West Coast.

“While we believe the Ferndale Refinery is a strategic fit for this renewable diesel project, permitting uncertainties were leading to delays and higher costs,” said Robert Herman, Phillips 66 executive vice president of Refining. He added that the company continues to progress its renewable diesel project portfolio.

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