Articles from Phillips 66

Phillips 66 (NYSEPSX), a leading integrated downstream energy provider, announced fourth-quarter earnings.

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.

Phillips 66 (NYSEPSX), a leading integrated downstream energy provider, announced third-quarter earnings.

Phillips 66 (NYSEPSX) announced plans to cease operations at its Los Angeles-area refinery in the fourth quarter of 2025 and will work with the state of California to supply fuel markets and meet ongoing consumer demand.

Phillips 66 (NYSEPSX) announced today that its subsidiary, Phillips 66 Limited, has entered into a definitive agreement to sell its 49 percent non-operated equity interest in Coop Mineraloel AG (“CMA”) to its Swiss joint venture partner. It will receive cash of 1.06 billion Swiss francs (approximately $1.24 billion) consisting of a 1 billion Swiss franc sales price (approximately $1.17 billion) and an assumed dividend of 60 million Swiss francs (approximately $70 million) for financial year 2024 to be paid at or prior to closing. The sales price is subject to adjustment based on the amount of the dividend.

The board of directors of Phillips 66 (NYSEPSX) has declared a quarterly dividend of $1.15 per share on Phillips 66 common stock. The dividend is payable on Dec. 2, 2024, to shareholders of record as of the close of business on Nov. 18, 2024.

The board of directors of Phillips 66 (NYSEPSX) has appointed Grace Puma Whiteford to serve on the company’s board, effective Oct. 10. She will serve on the Human Resources and Compensation Committee and the Public Policy and Sustainability Committee of the board.

Phillips 66 (NYSEPSX) executive management will host a webcast at noon ET on Tuesday, Oct. 29, 2024, to discuss the company’s third-quarter 2024 financial results, which will be released earlier that day.

Phillips 66 (NYSEPSX), a leading diversified and integrated downstream energy provider, announced second-quarter earnings.

The board of directors of Phillips 66 (NYSEPSX) has declared a quarterly dividend of $1.15 per share on Phillips 66 common stock. The dividend is payable on Sept. 3, 2024, to shareholders of record as of the close of business on Aug. 20, 2024.

Phillips 66 (NYSEPSX) today announced the full conversion of the Rodeo Renewable Energy Complex, expanding commercial-scale production and positioning the company as a leader in renewable fuels.

Phillips 66 (NYSEPSX) released its 2024 Sustainability and People Report today, demonstrating the company’s approach to helping supply the world’s growing energy needs while advancing projects to reduce emissions and foster growth.

Phillips 66 (NYSEPSX) announced today it has agreed to sell its 25% non-operated common equity interest in Rockies Express Pipeline LLC (REX) to a subsidiary of Tallgrass Energy, LP (TGE) for an enterprise value of approximately $1.275 billion. TGE is the operator of REX and will own 100% of the common equity interest in REX following the transaction. This transaction generates pre-tax cash proceeds of $685 million to Phillips 66 after adjustments for Phillips 66’s allocation of REX’s debt and preferred equity balances.

Phillips 66 (NYSEPSX) announces its subsidiary, Phillips 66 Pipeline, LLC, is launching a binding open season to solicit shipper commitments for services from Wichita, Kansas, to Jefferson City, Missouri, and East St. Louis, Illinois, on its Blue Line System.

Mark Lashier, chairman and CEO of Phillips 66 (NYSEPSX), will participate in a fireside chat at the J.P. Morgan 2024 Energy, Power & Renewables Conference at 10:55 a.m. ET on Tuesday, June 18, 2024.

Phillips 66 (NYSEPSX) announced today it has agreed to acquire Pinnacle Midland Parent LLC (Pinnacle) from private equity firm Energy Spectrum Capital for cash consideration of $550 million in a strategic move to expand its natural gas gathering and processing footprint in the Midland Basin.

Phillips 66 (NYSEPSX) will host its 2024 Annual Meeting of Shareholders on Wednesday, May 15 at 9 a.m. CT in a virtual-only format via audio webcast.

Phillips 66 (NYSEPSX), a leading diversified and integrated downstream energy company, announced first-quarter earnings of $748 million, compared with earnings of $1.3 billion in the fourth quarter. Excluding special items of $74 million, the company had adjusted earnings of $822 million in the first quarter, compared with fourth-quarter adjusted earnings of $1.4 billion.

The board of directors of Phillips 66 (NYSEPSX) has declared a quarterly dividend of $1.15 per share on Phillips 66 common stock, representing a 10% increase. The dividend is payable on June 3, 2024, to shareholders of record as of the close of business on May 20, 2024.

Phillips 66 (NYSEPSX) today announced a major milestone in its conversion of the San Francisco refinery into the Rodeo Renewable Energy Complex, expanding commercial scale production of renewable diesel.

Phillips 66 (NYSEPSX) executive management will host a webcast at noon ET on Friday, April 26, 2024, to discuss the company’s first-quarter 2024 financial results, which will be released earlier that day.

Richard Harbison, executive vice president of Refining at Phillips 66 (NYSEPSX), and Jeff Dietert, vice president of Investor Relations, will participate in a fireside chat at the BofA Securities Refining Conference 2024 at 12:45 p.m. ET on Thursday, March 14, 2024.

The Board of Directors of Phillips 66 (NYSEPSX) has appointed Robert W. Pease to serve on the board, effective immediately. Following the appointment, the board consists of 14 directors, 12 of whom are independent. In addition, Phillips 66 and Elliott Investment Management L.P. (together with its affiliates, “Elliott”) have agreed to work together to identify a second mutually agreed director to be named over the coming months.

The board of directors of Phillips 66 (NYSEPSX) has declared a quarterly dividend of $1.05 per share on Phillips 66 common stock. The dividend is payable on March 1, 2024, to shareholders of record as of the close of business on Feb. 20, 2024.

Phillips 66 (NYSEPSX), a leading diversified and integrated downstream energy company, announced fourth-quarter earnings of $1.3 billion, compared with earnings of $2.1 billion in the third quarter. Excluding special items of $102 million, the company had adjusted earnings of $1.4 billion in the fourth quarter, compared with third-quarter adjusted earnings of $2.1 billion. In addition, the company provided an update on progress toward its strategic priorities.

Mark Lashier, president and CEO of Phillips 66 (NYSEPSX), Kevin Mitchell, executive vice president and CFO, 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 Thursday, January 4, 2024.

Phillips 66 (NYSEPSX) executive management will host a webcast at noon ET on Wednesday, Jan. 31, 2024, to discuss the company’s fourth-quarter and full-year 2023 financial results, which will be released earlier that day.

Phillips 66 (NYSEPSX) today announced a 2024 capital budget of $2.2 billion, including $923 million for sustaining capital and $1.3 billion for growth capital. Excluding joint venture debt repayments due in 2024, the company’s 2024 capital budget is $2 billion.

Phillips 66 (NYSEPSX) today issued the following statement regarding a letter from Elliott Investment Management L.P. (Elliott):

Phillips 66 (NYSEPSX) executive leaders will participate in a fireside chat at the BofA Securities Global Energy Conference 2023 at 3 p.m. CT on Tuesday, November 14, 2023.

Phillips 66 (NYSEPSX), a diversified energy company, announces third-quarter results and updates to the strategic priorities first presented at its November 2022 Investor Day.

The board of directors of Phillips 66 (NYSEPSX) has declared a quarterly dividend of $1.05 per share on Phillips 66 common stock. The dividend is payable on Dec. 1, 2023, to shareholders of record as of the close of business on Nov. 17, 2023.

Phillips 66 (NYSEPSX) executive management will host a webcast at noon ET on Friday, Oct. 27, 2023, to discuss the company’s third-quarter 2023 financial results, which will be released earlier that day.

Phillips 66 (NYSEPSX), a diversified energy company, announces second-quarter 2023 earnings of $1.7 billion compared with earnings of $2.0 billion in the first quarter. Excluding special items of $69 million, the company had adjusted earnings of $1.8 billion in the second quarter, compared with first-quarter adjusted earnings of $2.0 billion.

The board of directors of Phillips 66 (NYSEPSX) has declared a quarterly dividend of $1.05 per share on Phillips 66 common stock. The dividend is payable on Sept. 1, 2023, to shareholders of record as of the close of business on Aug. 18, 2023.

Phillips 66 (NYSEPSX) released its 2023 Sustainability Report today, highlighting the company’s efforts to build a strong and resilient business.

Phillips 66 (NYSEPSX) executive management will host a webcast at noon ET on Wednesday, Aug. 2, 2023, to discuss the company’s second-quarter 2023 financial results, which will be released earlier that day.

Phillips 66 (NYSEPSX) and DCP Midstream, LP NYSE: DCPNYSEDCP)

Mark Lashier, President and CEO of Phillips 66 (NYSEPSX), and Jeff Dietert, Vice President of Investor Relations, will participate in a fireside chat at the J.P. Morgan Energy, Power & Renewables Conference on Wednesday, June 21, 2023, at 11:20 a.m. ET.

The board of directors of Phillips 66 (NYSEPSX) has declared a quarterly dividend of $1.05 per share on Phillips 66 common stock. The dividend is payable on June 1, 2023, to shareholders of record as of the close of business on May 22, 2023.

Phillips 66 (NYSEPSX), a diversified energy company, announces first-quarter 2023 earnings of $2.0 billion, or $4.20 per share, compared with earnings of $1.9 billion in the fourth quarter of 2022. Excluding special items of $4 million, the company had adjusted earnings of $2.0 billion, or $4.21 per share, in the first quarter, compared with fourth-quarter adjusted earnings of $1.9 billion.

Phillips 66 (NYSEPSX) will host its 2023 Annual Meeting of Shareholders on Wednesday, May 10, at 9 a.m. CT in a virtual-only format via audio webcast.

Phillips 66 (NYSEPSX) executive management will host a webcast at noon ET on Wednesday, May 3, 2023, to discuss the company’s first-quarter 2023 financial results, which will be released earlier that day.

Mark Lashier, President and CEO of Phillips 66 (NYSEPSX), and Jeff Dietert, Vice President of Investor Relations, will speak at the 51st Annual Scotia Howard Weil Energy Conference on Tuesday, March 7, 2023, at 9:30 a.m. ET.

Richard Harbison, Senior Vice President of Refining at Phillips 66 (NYSEPSX), and Jeff Dietert, Vice President of Investor Relations, will participate in a fireside chat at the Bank of America Securities 2023 Refining Conference on Thursday, March 2, 2023, at 12 p.m. ET.

The board of directors of Phillips 66 (NYSEPSX) has declared a quarterly dividend of $1.05 per share on Phillips 66 common stock, representing an 8% increase. The dividend is payable on March 1, 2023, to shareholders of record as of the close of business on Feb. 21, 2023.

Phillips 66 (NYSEPSX), a diversified energy company, announces fourth-quarter 2022 earnings of $1.9 billion, compared with earnings of $5.4 billion in the third quarter of 2022. Excluding special items of $15 million, the company had adjusted earnings of $1.9 billion in the fourth quarter, compared with third-quarter adjusted earnings of $3.1 billion.

Phillips 66 (NYSEPSX) today announced it has received International Sustainability and Carbon Certification (ISCC) PLUS certification for its Sweeny Refinery in Texas to process oil made from waste plastics into feedstocks for new plastics.

Phillips 66 (NYSEPSX) and DCP Midstream, LP (“DCP Midstream”) NYSE: DCPNYSEDCP)

Mark Lashier, President and CEO of Phillips 66 (NYSEPSX), and other Executive Leadership Team members will participate in a fireside chat at the Goldman Sachs Global Energy and Clean Technology Conference on Thursday, Jan. 5, 2023, at 11 a.m. ET.

Phillips 66 (NYSEPSX) executive management will host a webcast at noon ET on Tuesday, Jan. 31, 2023, to discuss the company’s fourth-quarter 2022 financial results, which will be released earlier that day.

Phillips 66 (NYSEPSX) today announced a 2023 capital program of $2 billion, including $865 million for sustaining capital and $1.1 billion for growth capital. Approximately 50% of growth capital supports lower-carbon opportunities. The capital program is consistent with the company’s commitment to maintain a $2 billion annual budget through 2024.

Phillips 66 (NYSEPSX) will provide a plan to deliver higher shareholder distributions and increase shareholder value at its investor day meeting in New York today.

Phillips 66 (NYSEPSX), a diversified energy company, announces third-quarter 2022 earnings of $5.4 billion, compared with earnings of $3.2 billion in the second quarter of 2022. Excluding special items of $2.3 billion, the company had adjusted earnings of $3.1 billion in the third quarter, compared with second-quarter adjusted earnings of $3.3 billion.

Phillips 66 (NYSEPSX) executive management will provide an update on the company’s strategic initiatives at its investor day. The meeting will take place at 8:30 a.m. EST on Nov. 9, 2022, in New York.

Phillips 66 (NYSEPSX) announced the installation of FreeWire ultrafast electric-vehicle chargers at its flagship fuel station near its headquarters in Houston, marking the debut of ultrafast EV charging at a convenience fuel station in the city.

The board of directors of Phillips 66 (NYSEPSX) has declared a quarterly dividend of 97 cents per share on Phillips 66 common stock. The dividend is payable on Dec. 1, 2022, to shareholders of record as of the close of business on Nov. 17, 2022.

Phillips 66 (NYSEPSX) executive management will host a webcast at noon ET on Tuesday, Nov. 1, 2022, to discuss the company’s third-quarter 2022 financial results, which will be released earlier that day.

Concurrent with Phillips 66’s (NYSEPSX) announcement of the realignment of economic and governance interests in DCP Midstream, LP (DCP Midstream), Phillips 66 also announced today it has submitted a non-binding proposal to the board of directors of the general partner of DCP Midstream offering to acquire all publicly held common units of DCP Midstream for cash. Subject to negotiation and execution of a definitive agreement, Phillips 66 is proposing consideration of $34.75 for each outstanding publicly-held common unit of DCP Midstream as part of a transaction that would be structured as a merger of DCP Midstream with an indirect subsidiary of Phillips 66 with DCP Midstream as the surviving entity.

Phillips 66 (NYSEPSX) announced today a realignment of its economic and governance interests in DCP Midstream, LP (DCP Midstream) NYSE: DCPNYSEDCP)

Phillips 66 (NYSEPSX) announces that its subsidiary, Phillips 66 Carrier, LLC, is launching a binding expansion open season on its Seminoe Pipeline system to solicit shipper commitments for services from Billings, Montana, to Casper, Wyoming. The expansion open season will provide an opportunity for interested shippers to secure long-term refined product transportation with Seminoe Pipeline under binding transportation services agreements.

Phillips 66 (NYSEPSX), a diversified energy company, announces second-quarter 2022 earnings of $3.2 billion, compared with earnings of $582 million in the first quarter of 2022. Excluding special items of $118 million, the company had adjusted earnings of $3.3 billion in the second quarter, compared with first-quarter adjusted earnings of $595 million.

Phillips 66 (NYSEPSX) and H2 Energy Europe (“H2 Energy”) today announced they have closed on a 50-50 joint venture to set up and operate a network of hydrogen refueling retail sites in Germany, Austria and Denmark.

The board of directors of Phillips 66 (NYSEPSX) has appointed Mark E. Lashier and Gregory J. Hayes to serve on the board, effective July 12, 2022. Following the appointments, the board of Phillips 66 will consist of 13 directors, 11 of whom are independent.

The board of directors of Phillips 66 (NYSEPSX) has declared a quarterly dividend of 97 cents per share on Phillips 66 common stock. The dividend is payable on Sept. 1, 2022, to shareholders of record as of the close of business on Aug. 18, 2022.

Phillips 66 (NYSEPSX) released its 2022 Sustainability Report on Thursday, giving a comprehensive account of its efforts to be one of the safest and most reliable operators in the energy industry and deliver on its commitment to advance a lower-carbon future.

Phillips 66 (NYSEPSX) executive management will host a webcast at noon EDT on Friday, July 29, 2022, to discuss the company’s second-quarter 2022 financial results, which will be released earlier that day, and provide an update on strategic initiatives.

Phillips 66 (NYSEPSX) Executive Leadership Team members will participate in a fireside chat at the J.P. Morgan Energy, Power & Renewables Conference on Wednesday, June 22, 2022, at 9:50 a.m. EDT.

Phillips 66 (NYSEPSX) signed a letter of intent with FreeWire Technologies in support of its first electric-vehicle charging program in the United States, the two companies announced Wednesday.

Phillips 66 (NYSEPSX) made a final investment decision Wednesday to move forward with Rodeo Renewed, the project to convert its San Francisco Refinery in Rodeo, California, into one of the world’s largest renewable fuels facilities. The project, which recently received approval from Contra Costa County, is expected to cost approximately $850 million and begin commercial operations in the first quarter of 2024.