Philip withdraws from the contract with Renewable Energy Group

A long-awaited partnership with Phillips 66 (NYSE: PSX) has now been revealed by the country’s largest biodiesel production company. The organization laid out proposals to construct a 250 million gallon-per-year (mmgy) green diesel refinery on the West Coast. The Renewable Energy Group would have had quick market access under the attractive incentive scheme introduced by California, housed the most extensive manufacturing facilities in the firm’s fleet, and has tripled the amount of sustainable diesel generated from the industry’s development platform. Investors currently¬†have more unanswered questions about the inventory of sustainable…

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