Sapphire does deal with Phillips 66 on "green crude"
Sapphire said Tuesday [10 Dec. 2013] it has signed a contract with Houston refining giant Phillips 66 to blend green crude with regular crude in products like gasoline, diesel and jet fuel. They’re not going to sell it, yet. First, they’re going to study it further in a Phillips 66 lab in Oklahoma.
The two companies hope to get the crude certified under Environmental Protection Agency fuel standards next year, which would enable the crude to be churned at traditional refineries, said Tim Zenk, vice president of corporate affairs for Sapphire, in an interview Tuesday.