Phillips 66 announced that it plans to form a partnership with Renewable Energy Group to produce renewable diesel on a large scale and wants to establish a big production facility near one of its former refineries in the state of Washington. While many would argue that a partnership between a renewable fuel company an a refiner is unusual, as they often stand on opposite sides, and as refining companies traditionally tend to have a resistance towards RF companies, but I tend to think that it’s an excellent move to widen the company’s horizons and go into other markets. These markets are not in any collision at the moment and every factor points out that RF is a growing market. Think that it's gonna take some time, but the company could have a lot of benefits from this in the long run.
https://seekingalpha.com/article/4218226-phillips-66-wants-produce-renewable-diesel