Phillips 66 has landed a huge contract to produce jet fuel for the Pentagon.
The Department of Defense announced this week that it awarded a $292,016,625 contract to Phillips 66 for aviation turbine fuel, better known as jet fuel.
The contract calls for Phillips 66 to provide jet fuel for 14 months, ending on April 30, 2015. The Pentagon says Phillips 66 beat out 25 other companies for the job.
Phillips 66 released the following statement on the contract:
"This competitive contract is awarded annually by the Defense Logistics Agency to supply jet fuel (aviation turbine fuel) to several Department of Defense facilities in Oklahoma, Colorado, Iowa, Kansas, Nebraska and Minnesota. Phillips 66 has a long history of supplying jet fuel to these locations from our Borger and Ponca City refineries. This contract is to supply approximately 87 million gallons over 14 months, with previous contract awards being in the 80 to 100 million gallon range.
Our Bartlesville office manages the contract and performs support functions including billing, customer service, and receivables. This is a continuing operation for our Global Marketing business and there are no changes to our operations in Bartlesville."