MOSCOW (MRC) -- Phillips 66 is driving to expand its advanced analytics capabilities with an investment supporting Seeq, a developer of software applications for analyzing and sharing insights on process manufacturing data, according to Hydrocarbonprocessing.
The investment is through the Altira Group, a venture capital firm that counts Seeq as one of its portfolio companies. It is the first investment by Phillips 66’s Digital Ventures organization, which is part of the AdvantEdge66 program launched by the company to drive digital transformation and innovation.
“Data can yield incredible value and insights when properly gathered and refined through advanced analytics,” said Zhanna Golodryga, Senior Vice President and Chief Digital and Administrative Officer for Phillips 66. “That’s why it’s important for us to collaborate with companies to advance innovation in the digital and analytics spaces. This investment provides a pathway for us to help Seeq grow and continue to improve its products, which we believe will be beneficial for our digital transformation journey.”
Seeq is a privately held virtual company headquartered in Seattle with a comprehensive set of process manufacturing and Industrial Internet of Things software applications.
As MRC informed previously, Worley has been recently awarded a front-end engineering services contract by Phillips 66 to convert its San Francisco refinery in Rodeo, California, USA into a renewable fuels-manufacturing facility. Under the contract, Worley will provide front-end engineering design services for the facility, which will be executed by Worley’s North America West team with support from Worley’s Global Integrated Delivery team.
Besides, in October 2020, Phillips 66 said it plans to reconfigure its refinery in Rodeo, California to produce renewable fuels from used cooking oil, fats, greases and soybean oils.
We remind that US-based Phillips 66 remains open to developing another ethane cracker for its Chevron Phillips Chemical (CP Chem) joint venture, the refiner's CEO said in March 2018.
Ethylene and propylene are the main feedstocks for the production of polyethylene (PE) and polypropylene (PP), respectively.
According to MRC's ScanPlast report, Russia's estimated PE consumption totalled 953,400 tonnes in the first five months of 2021, which virtually corresponded to the same figure a year earlier. High density polyethylene (HDPE) shipments decreased. At the same time, PP shipments to the Russian market were 607,8900 tonnes in January-May 2021, up by 33% year on year. Shipments of homopolymer PP and PP block copolymers increased, whereas deliveries of PP random copolymers decreased.
Phillips 66 is a diversified energy manufacturing and logistics company. With a portfolio of Midstream, Chemicals, Refining, and Marketing and Specialties businesses, the company processes, transports, stores and markets fuels and products globally. Phillips 66 Partners, the company’s master limited partnership, is integral to the portfolio. Headquartered in Houston, the company has 14,300 employees committed to safety and operating excellence. Phillips 66 had USD55 billion of assets as of Dec. 31, 2020.
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