Company History: Phillips 66 became a stand-alone company in 2012, turning into a leading diversified and integrated downstream energy provider that manufactures, transports and markets products that drive the global economy. The company is comprised of several heritage, joint venture and acquired brands. This includes Conoco, founded in 1975. The Phillips 66 brand originated from the Phillips Petroleum Company, founded in 1917 by Frank and L.E. Phillips. Specifically, the Bayway Refinery was built in 1909 and is uniquely situated on the New York Harbor in Linden.
Describe your products: The Bayway Refinery facilities include crude distilling, naphtha reforming, fluid catalytic cracking, solvent de-asphalting, hydrodesulfurization and alkylation units. The complex also includes a polypropylene plant with the capacity to produce up to 775 million pounds per year. The refinery produces a high percentage of transportation fuels, as well as petrochemical feedstocks, residual fuel oil, and home heating oil. Refined petroleum products are distributed to East Coast customers by pipeline, barge, railcar and truck.
What makes your products special in your sector? The Bayway Refinery polypropylene production enables 30 different products. These products wind up in everyday consumer items such as plastic bottles, food containers, outdoor furniture, medical supplies, food wrap, snack packaging, cellphone covers and much more.
What about new products/growth/expansion? The Bayway Refinery is exploring opportunities to enter the renewable energy segment. Phillips 66 is examining the feasibility and economics of co-processing streams at the refinery that would qualify for renewable credits.
What continuing role does technology play at your company? By promoting innovation and leveraging digital capabilities, Phillips 66 strives to increase the efficiency and resilience of its diversified operations and reduce costs. It is utilizing data, artificial intelligence and machine learning to deliver agility, efficiency and value.
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