Join our daily newsletter At The Bell to receive exclusive market insights
- ASX200 company Worley (WOR) has won a front-end engineering services contract from Phillips 66
- Under the contract, Worley will convert Phillips 66’s San Francisco refinery into a renewable fuels manufacturing facility
- The project will reconfigure the refinery and produce up to 2.5 billion litres per year of renewable transportation fuels from used cooking oils, fats, greases and vegetable oils
- Interestingly, Once built, the renewables facility is expected to be one of the world’s largest facilities of its kind
- Worley shares are down 0.18 per cent and trading at $10.89 per share
Worley (WOR) has won a front-end engineering services contract from the Phillips 66 Company.
Worley will convert Phillips 66’s San Francisco refinery in California into a renewable fuels manufacturing facility.
The project will reconfigure the refinery and produce up to 2.5 billion litres per year of renewable transportation fuels from used cooking oils, fats, greases and vegetable oils.
Once built, the renewables facility is expected to be one of the world’s largest facilities of its kind.
Under the contract, Worley will provide front-end engineering design services for the facility, which will be executed by Worley’s North America West team.
Phillips 66 is an American multinational energy company.
“As a global company headquartered in Australia, this project aligns with our strategic focus on sustainability and delivering a more sustainable world,” CEO Chris Ashton said.
“We are pleased that Phillips 66 has engaged Worley in this important renewable fuels project and look forward to supporting Phillips 66’s energy transition goals, while also supporting Worley’s strategic focus on future fuels,” he added.
Despite the positive news, Worley shares are down a slight 0.18 per cent and trading at $10.89 per share at 11:43 am AEST.
