Phillips 66 sees strong diesel demand continuing as it approves Rodeo Renewed project in California

Phillips 66 reported strong second-quarter refining results, aided by its higher-than-average diesel yield, as the company made the final decision to convert its Rodeo, California, refinery into a renewables fuel plant, company executives said on the July 29 Q2 results call. “In refining, we made a final investment decision to move forward with our Rodeo Renewed project to convert our…