Welcome to our dedicated page for PHILLIPS 66 news (Ticker: PSX), a resource for investors and traders seeking the latest updates and insights on PHILLIPS 66 stock.
Phillips 66 reports news across its integrated downstream energy portfolio, including Midstream, Chemicals, Refining, Marketing and Specialties, and Renewable Fuels. Company updates commonly address refining operations, NGL fractionation and LPG export capacity, refined-products logistics, chemical joint venture activity, renewable fuels, retail fuel marketing and completed asset additions such as the Lindsey Oil Refinery assets in the United Kingdom.
Recurring Phillips 66 announcements also cover quarterly results, dividend declarations, capital allocation, credit and liquidity updates, shareholder meetings, investor presentations, board governance and commercial developments tied to pipelines, terminals, storage, processing and fuel supply infrastructure.
Phillips 66 (PSX) will host a webcast at noon ET on Wednesday, Oct. 28, 2026, to discuss its third-quarter 2026 financial results, which will be released earlier that day.
The webcast can be accessed via the Events and Presentations section of the Phillips 66 Investors site, and a replay and transcript will be available there after the event.
Oil Market Daily reports crude started the week near $100 a barrel as Gulf Cooperation Council diplomats plan talks with Iran in Oman on Monday over a temporary shipping arrangement for the Strait of Hormuz.
The IEA now projects global oil demand will fall by 2.5 million barrels a day in 2026, while the EIA lifted its second-half 2026 Brent forecast by $8 to about $90 and sees prices averaging $77 by the second quarter of 2027 as shut-in Gulf production restarts. Global output fell 1.6 million barrels a day in August to 100.1 million, with more than 10 million barrels a day of Gulf capacity offline and inventories down 507 million barrels since the war began.
Refined products are tighter than crude: refinery runs in August were 81.4 million barrels a day, 4.2 million below a year earlier, pushing Atlantic Basin margins to records and tanker earnings to extremes. Valero, Marathon Petroleum, Phillips 66, Frontline and Equinor disclosures illustrate the squeeze in refining and shipping that is amplifying price moves.
Phillips 66 (NYSE: PSX), Kinder Morgan (NYSE: KMI) and HF Sinclair (NYSE: DINO) approved a final investment decision and signed a joint venture to develop the Western Gateway Pipeline, a refined products system with an enterprise value of approximately $5.0 billion.
The partners will own 49.9% (Phillips 66), 35.1% (Kinder Morgan) and 15% (HF Sinclair). Western Gateway is planned as a 1,300-mile system with design capacity of 230,000 barrels per day, creating a new fuel supply route from St. Louis and Gulf Coast origins to Arizona and California.
The project includes a roughly 900-mile new-build pipeline from Borger, Texas, to Phoenix, constructed and operated by Phillips 66, and Kinder Morgan’s SFPP East and West Line assets, valued at about $1.5 billion, contributed to the joint venture.
According to the companies, cash contributions will total about $2.5 billion from Phillips 66, $250 million from Kinder Morgan and $750 million from HF Sinclair. The system is supported primarily by 10-year take-or-pay contracts and targets completion in 2029, subject to permits and regulatory approvals.
Phillips 66 (NYSE: PSX) reported second-quarter 2026 earnings of $3.8 billion, or $9.55 per diluted share, and adjusted earnings of $3.8 billion, or $9.41 per share. Adjusted EBITDA was $5.9 billion. Cash flow from operations totaled $7.3 billion, and cash flow from operations excluding working capital was $4.3 billion.
The company reduced total debt by $6.6 billion to $20.6 billion, lowering net debt to $16.5 billion and the net debt-to-capital ratio to 33%. Phillips 66 returned $887 million to shareholders, including $508 million in dividends and $379 million of share repurchases.
Operationally, Phillips 66 achieved record NGL fractionation volumes, strong refining crude capacity utilization of 96% with an 86% clean product yield, and higher renewable fuels production of 53 MBD. The company reached full production at the 220 MMCFD Dos Picos II gas plant, announced the 300 MMCFD Zeus Gas Plant and a 100 MBD Coastal Bend NGL Fractionator, and reported progress by CPChem on major polymers projects in the U.S. and Qatar.
Phillips 66 (NYSE: PSX) announced that its board of directors has approved a $10 billion increase to the company’s share repurchase authorization, as the prior authorization neared its limit. The new program allows open-market repurchases at the company’s discretion, subject to market conditions, regulations and other factors.
According to Phillips 66, the expanded buyback authorization aligns with its capital allocation approach, which also emphasizes dividends, disciplined capital investment and continued debt reduction. Repurchased shares will be held as treasury stock, and the company may start, pause or end purchases at any time without prior notice.
Phillips 66 (NYSE: PSX) declared a quarterly dividend of $1.27 per share on its common stock. The dividend is payable on September 1, 2026 to shareholders of record as of the close of business on August 18, 2026.
Phillips 66 (NYSE: PSX) executive management will host a webcast at 12:00 p.m. ET on Wednesday, Aug. 5, 2026 to discuss second-quarter 2026 financial results, which will be released earlier that day.
Investors can access the live and replay webcasts, plus a transcript, via the Events and Presentations section of the Phillips 66 investors site.
Phillips 66 (NYSE:PSX) will host a 7-megawatt waste heat to power project developed by Kanin Energy at the Mewbourn natural gas processing complex in Platteville, Colorado. The WHP system will use turbine waste heat to generate onsite baseload power, aiming to cut power costs and greenhouse gas emissions.
Kanin Energy will develop, own, and operate the facility, giving Phillips 66 a turnkey solution without upfront capital. Construction is expected to begin later in 2026, supporting plant reliability, operational resilience, and a reduced environmental footprint.
Phillips 66 (NYSE: PSX) announced that chairman and CEO Mark Lashier will join a fireside chat at the J.P. Morgan 2026 Energy, Power, Renewables & Mining Conference at 8:00 a.m. ET on June 23, 2026.
Kevin Mitchell and Sean Maher will also attend. A live webcast, replay, and later transcript will be available on the Phillips 66 Investors site.
Phillips 66 (NYSE:PSX) will build the 300 MMcf/d Zeus Gas Plant in the Permian and a third 100 MBD Coastal Bend Fractionator near Corpus Christi, plus the 45-mile Midland Express pipeline. Both projects, part of the $2.0–$2.5 billion capital program, are targeted to start up in 2028.
The investments aim to expand Permian gas processing, NGL fractionation and system connectivity, support dedicated acreage growth, and align with goals to reduce debt to $17 billion by year-end 2027 while returning over 50% of net operating cash flow to shareholders.