04.26.2024
P66 Rodeo to begin producing SAF in Q3
Phillips 66 brought its long-awaited Rodeo Renewable Energy Complex online during the first quarter of 2024, but it is not producing sustainable aviation fuel (SAF) yet, the company said...
The RFS renewable volume obligations (RVOs) issued by the EPA provide percentage standards applied to the initial mandated forecast at that time of release. The percentage standards translate into volumes based on the estimated consumption forecast. The actual RVOs become known over time but use the same percentage standards applied to the original mandate, which created the initial volume expectations.
Reviewing the February STEO and applying the appropriate percentage standards, 2023 gasoline consumption has fallen below the original volume estimate and has lowered the implied ethanol mandate from 15 billion gallons to 14.94 billion gallons. This is above last month’s projection of 14.90 billion gallons.
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