Phillips 66 is a diversified energy manufacturing and logistics company that focuses on the refining, transportation, and marketing of petroleum products
The company operates a network of refineries that produce a wide range of fuels and petrochemical products, contributing to the energy supply chain. Additionally, Phillips 66 is involved in the development of midstream and downstream activities, including the transportation of crude oil and refined products through pipelines and terminals. The company's operations emphasize safety, reliability, and environmental stewardship as they meet the energy needs of their customers while fostering innovation in energy technologies.
The refiner reported fourth-quarter net earnings of $8 million, or $0.01 per share, compared with $346 million, or $0.82 per share in profit, last year.
Phillips 66 reported a decline in Chemicals segment income and improved loss in Refining segment, with plans to return cash to shareholders and reduce debt.
Phillips 66 to acquire EPIC NGL business for $2.2 billion in cash. Assets include fractionators, pipelines, and plans for expansion, increasing earnings per share.
Phillips 66 (NYSEPSX) announced today that it has entered into a definitive agreement to buy EPIC Y-Grade GP, LLC and EPIC Y-Grade, LP, which own various subsidiaries and long haul natural gas liquids pipelines, fractionation facilities and distribution systems (“EPIC NGL”) for total cash consideration of $2.2 billion, subject to customary purchase price adjustments. Upon closing, this transaction is expected to be immediately accretive to earnings per share.
Mark Lashier, chairman and CEO of Phillips 66 (NYSEPSX), Kevin Mitchell, executive vice president and CFO, Don Baldridge, executive vice president of Midstream and Chemicals, and Jeff Dietert, vice president of Investor Relations, will participate in a fireside chat at the Goldman Sachs Energy, CleanTech & Utilities Conference at 10:20 a.m. ET on Tuesday, Jan. 7, 2025.
Phillips 66 (NYSEPSX) executive management will host a webcast at noon ET on Friday, Jan. 31, 2025, to discuss the company’s fourth-quarter and full-year 2024 financial results, which will be released earlier that day.
Phillips 66 (NYSEPSX) announced today that it has entered into a definitive agreement to sell DCP GCX Pipeline LLC, which owns a 25% non-operated equity interest in Gulf Coast Express Pipeline LLC, to an affiliate of ArcLight Capital Partners, LLC for pre-tax total cash proceeds of $865 million, subject to purchase price adjustments.
Phillips 66 (NYSEPSX) today announced a 2025 capital budget of $2.1 billion, including $998 million for sustaining capital and $1.1 billion for growth capital.
Phillips 66 is teaming up with a subsidiary of NextEra Energy Resources, LLC to power Phillips 66’s Rodeo Renewable Energy Complex with a 30.2 megawatt (MW) solar facility.
Trump's energy plans could reshape US markets with potential tariffs, increased production, and LNG exports. Goldman Sachs breaks down winners and losers.
