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U.S. oil refiner Phillips 66 (NYSE: PSX) has been ordered by a California state court to pay $800 million to biofuel producer Propel Fuels for misappropriating trade secrets to strengthen its renewable fuel operations.
The Alameda County court ruling includes $604.9 million in compensatory damages and $195 million in punitive damages. The court described Phillips 66’s actions as “reprehensible,” citing abuse of bargaining power during due diligence.
A jury previously found that Phillips 66 had obtained confidential financial and strategic data from Propel Fuels under the pretense of exploring an acquisition in 2017. The refiner later abandoned the deal in 2018 and launched its own renewable fuel products in 2019, allegedly using Propel’s proprietary information.
Sacramento-based Propel Fuels, known for low-emission gasoline and diesel, filed the lawsuit in 2022. Propel’s legal team from Kobre & Kim emphasized the verdict’s significance, stating it serves as a broader message to protect innovators in the clean energy sector.
Phillips 66, headquartered in Houston, has acknowledged receipt of the order and said it is evaluating legal options, suggesting a potential appeal.
The case underscores rising tensions in the renewable energy and biofuels industry, where traditional oil companies are increasingly seeking to transition toward sustainable fuel solutions. The verdict may also signal heightened legal scrutiny over trade secret misappropriation in clean energy partnerships.
The landmark judgment comes as renewable fuels gain momentum amid tightening U.S. and California emissions regulations and growing investor interest in sustainable energy.
