April 7, 2023
Phillips 66 is preparing to take on the energy future, President and CEO Mark Lashier told the Houston Chronicle in an exclusive interview.
“Our mission is to provide energy and improve lives, whatever form that energy takes,” he said in the interview, published April 3 as a cover story in the newspaper’s business magazine. Whatever the world needs — be it cars or kayaks — Phillips 66 will be looking at ways to deliver that energy, he added.
Lashier covered a number of topics in the interview, including new technologies and innovative projects related to the energy transition. Among them: the company’s conversion of the San Francisco Refinery in Rodeo, California, into one of the world’s largest facilities for renewable fuels.
He also discussed the company’s efforts to market hydrogen as a transportation fuel, develop sustainable aviation fuel and produce a specialty carbon material that goes into lithium-ion batteries.
Lashier said Phillips 66 is lowering the carbon footprint of the fuels it produces, in part by reducing the amount of energy consumed at its facilities, as well as looking at carbon-capture technologies.
Meanwhile, all the company’s moves into emerging energy are underpinned by a commitment to Phillips 66 shareholders. “The intent is to ensure that we’re providing returns to our investors,” Lashier told reporter Amanda Drane (pictured).
Lashier said U.S. gasoline demand may have peaked with more stringent fuel economy standards and electric vehicles coming into the marketplace, but the company’s core businesses will stay relevant with global demand for liquid fuels continuing to rise.
In particular, demand for diesel and jet fuel will see strong growth, he said. “We may have to figure out how to make more diesel and jet fuel and less gasoline, but the assets are going to be there, and the jobs will continue to be there,” said Lashier.