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transaction costs, will be used initially to MOVES carbon-negative fuel and
reduce borrowings outstanding under the
Partnership’s revolving credit facility and for Phillips 66 names industry infrastructure
general partnership purposes.
BLUEKNIGHT ENERGY PARTNERS, March 01, leader Mark Lashier Clean Energy Fuels and its largest shareholder,
2021 Total, today announced a 50/50 joint venture
as president and chief to develop carbon-negative renewable
natural gas (RNG) production facilities in
operating officer build additional downstream RNG fuelling
SERVICES the United States, as well as credit support to
Baker Hughes and Akastor Phillips 66 has named Mark Lashier, president infrastructure. The initial firm commitment
is $100mn and can increase to $400mn as
and CEO of Chevron Phillips Chemical
announce joint venture Company, as its president and chief operating development opportunities progress. Since
Clean Energy and Total will be providing the
officer effective April 1.
company to deliver global time to join Phillips 66,” said Greg Garland, equity portion of the investments, the actual
“Mark is the right leader at the right
amount of capital invested in RNG projects
offshore drilling solutions chairman and CEO of Phillips 66. “He may be higher than $400mn depending on
assumes his new role at a time when we
the amount of leverage that is deployed.
Baker Hughes and Akastor have announced are operationally and financially strong yet In addition, Total will be providing credit
an agreement to create a joint venture navigating a dynamic and challenging external support for Clean Energy development in
companythat will bring together Baker environment.” the RNG value chain, including $45mn for
Hughes’ Subsea Drilling Systems (SDS) Lashier, who has over 30 years of energy contracted RNG fuelling infrastructure.
business with Akastor’s wholly owned industry experience, has served as CPChem’s Carbon-negative RNG is produced
subsidiary, MHWirth. The company will CEO since 2017. He joined the global when carbon emissions are captured from
deliver a global full-service offshore drilling petrochemical joint venture, in which Phillips dairies and turned into a transportation fuel,
equipment offering that will provide 66 owns a 50% interest, in 2000. At CPChem reducing the harmful effects of long-term
customers with a broad portfolio of products he has served as executive vice president of climate change. As a result, the California Air
and services. Olefins and Polyolefins; senior vice president Resources Board gives these carbon-negative
The transaction will result in a leading of Specialties, Aromatics and Styrenics; RNG projects a weighted average carbon
equipment provider with integrated delivery vice president of Corporate Planning and intensity (CI) score (gCO2e/MJ) of -317
capabilities, financial strength, and flexibility Development; and regional manager of Asia. compared to 100 for diesel and 19 for electric
to address a full range of customer priorities. He began his career with Phillips Petroleum batteries. Clean Energy is the largest provider
The company will be owned 50-50 by Baker Company as a research engineer. of RNG as a transportation fuel in the United
Hughes and Akastor, and following the closing Reporting to Garland, Lashier will have States, and the largest RNG fuel provider
of the transaction, the company’s operations responsibility for operational execution under the California LCFS programme. RNG
will be managed from current offices in across all of Phillips 66 businesses – which can be used directly as a vehicle fuel or can
Houston, Texas, and Kristiansand, Norway. include Refining, Midstream, and Marketing be used as a feedstock to produce “green”
Merrill A. “Pete” Miller will serve as chairman & Specialties – and also for the company’s hydrogen or “green” electricity and still
and chief executive officer. Miller has been in health, safety and environmental efforts. generate LCFS environmental credits.
the oil and gas industry over 40 years holding With Lashier’s addition to the Phillips 66 The companies have already partnered
various leadership roles including chairman, leadership team, Garland will further focus on to expand the use of RNG in the heavy-duty
president and chief executive officer of the company’s strategic direction, disciplined truck market with the Zero Now programme,
National Oilwell Varco. capital allocation and engagement with key which allows fleets to purchase RNG trucks
The company’s broader scope of services stakeholders on issues facing the energy for the same price as diesel trucks. The
will also provide a more solid foundation industry. demand for carbon-negative RNG has
for future growth, including the capability PHILLIPS 66, March 01, 2021 rapidly accelerated through the Zero Now
to participate in the oil and gas industry’s programme with trucking companies such
transition towards more energy-efficient as Kenan Advantage, KeHE Distributors,
solutions, as well as deploying technologies ENERGY TRANSITION Estes Express Lines, Tradelink Transport,
and service solutions to make the sector among many others, taking advantage of the
more competitive through increased drilling Clean Energy and Total sign economic savings while powering their new
efficiency. fleets with the cleanest fuel in the world.
BAKER HUGHES AND AKASTOR, March 02, joint venture to develop CLEAN ENERGY FUELS AND TOTAL, March 04,
2021 2021

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