21 articles
The UK High Court allowed Glencore to pursue a $236 million claim against insolvent Prax Lindsey Oil Refinery for supplied crude oil. The dispute centers on alleged financial fraud by Prax's former CE
Lightning ignited three natural gasoline tanks at Explorer Pipeline’s critical Oklahoma depot, threatening supplies on a major US fuel network. The fire risks short-term disruptions to the tight US fu
Top U.S. refiners Marathon, Phillips 66, and Valero reported record combined profits of $12.6 billion in Q2 due to supply disruptions, returning $6.3 billion to shareholders. Analysts expect robust ca
Phillips 66, Kinder Morgan, and HF Sinclair finalized a joint venture for a $5 billion Western Gateway Pipeline system to supply the U.S. West Coast with 230,000 barrels per day capacity ahead of Cali
Phillips 66 reported a 34% year-over-year surge in Q2 adjusted net profit to $3.8 billion, exceeding market expectations driven by elevated refining margins. The company saw significant improvements a
Phillips 66 executives forecast sustained high fuel margins through 2027 driven by tight refining fundamentals and geopolitical supply disruptions. Record Q2 earnings highlight elevated crack spreads
Phillips 66's Q2 profit surged nearly fourfold to $3.85 billion as Middle East tensions boosted U.S. refining margins and fuel exports. Major rivals similarly reported record earnings since 2022 amids
Phillips 66's board approved a $10 billion increase to its share repurchase program, supported by stronger fuel margins following tightened global supplies due to the Iran conflict.
Shell and Phillips 66 are exploring a sale of their stakes in the Explorer pipeline, valued at approximately $3.5 billion amid rising demand for energy infrastructure assets. Investment bankers have b
Most Gulf Coast refineries remained operational during Tropical Storm Bertha, despite a minor lightning strike incident at Phillips 66's Sweeny plant. The storm impacted facilities covering 32% of U.S
Phillips 66 CEO Mark Lashier warned that Strait of Hormuz disruptions are increasing refining margin volatility. The company is reducing costs by $1 per barrel while anticipating a structural rise in
Phillips 66 CEO Mark Lashier warned of earnings volatility in refining and petrochemicals due to Strait of Hormuz disruptions, while highlighting cost reductions and improved operational yields.
Phillips 66 CEO Mark Lashier warned that clearing crude oil trapped in the Strait of Hormuz will be prolonged due to full storage tanks, though market responses prevented prices from spiking to $200 p
Phillips 66 plans to expand gas processing with the Zeus Gas Plant and a new Coastal Bend Fractionator, targeting 2028 operations for rising Permian Basin production. The projects add capacity for nat
Phillips 66 plans new midstream plants to process rising US ethane and propane production, joining other firms expanding export terminals amid limited domestic cracking capacity. ICIS and EIA forecast
Trafigura and Phillips 66 lead recipients of US waivers allowing foreign tankers to transport domestic fuel, facilitating over 50 cargoes amid rising prices driven by the Iran conflict. The policy eas
Phillips 66 announced its nine refineries will operate at a low-to-mid 90% capacity utilization rate in Q2 2026, totaling 2 million barrels per day. The UK facility targets the low-90% range while U.S
Phillips 66 posted a surprise first-quarter profit driven by soaring refining margins amid Middle East supply disruptions, beating analyst estimates despite derivative losses. Adjusted earnings jumped
U.S. gasoline prices surged to a nearly four-year high amid Iran conflict supply fears and regional refinery outages. Major operators like BP and Phillips 66 face disruptions, sustaining elevated cost
Phillips 66 and Kinder Morgan are advancing the Western Gateway pipeline to transport fuel from the US Gulf Coast and Midwest to California by mid-2029. The project aims to mitigate high regional fuel
Phillips 66 agreed to acquire assets from the bankrupt Lindsey Refinery in the UK, intending to integrate core assets into its Humber Refinery to bolster energy security and preserve jobs.
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