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 (NYSE: PSX) generates a steady flow of news across refining, midstream, chemicals, marketing and renewable fuels. As an integrated downstream energy provider headquartered in Houston, Texas, the company frequently issues updates on capital projects, portfolio changes, financial results and strategic partnerships that shape its role in supplying fuels and petrochemical products.
News about Phillips 66 often covers refining and marketing developments, such as investments at the Humber Refinery in North Lincolnshire and changes in its European retail marketing footprint. For example, the company announced the sale of a 65% interest in its Germany and Austria retail marketing business while retaining a non‑operated stake, and its UK subsidiary Phillips 66 Limited agreed to acquire Lindsey Oil Refinery assets to integrate key facilities into the Humber Refinery.
Investors and industry followers can also expect midstream and pipeline project updates, including announcements related to the Western Gateway refined products pipeline being developed with Kinder Morgan. These stories highlight how Phillips 66 connects midcontinent refinery supply to markets in Arizona, California and Nevada.
Regular earnings releases and capital budget announcements provide insight into segment performance, capital allocation between sustaining and growth projects, and progress on NGL wellhead‑to‑market initiatives, refining optimization and renewable fuels investments. Additional news items may feature branding collaborations, such as 76 Renewable Diesel promotions, and participation in industry conferences.
This news page allows readers to follow the latest press releases, project milestones and financial disclosures related to PSX. For anyone tracking downstream energy, refined products logistics, petrochemicals or renewable fuels, the Phillips 66 news feed offers a focused view of how the company manages its portfolio and invests in both traditional and lower‑carbon energy.
Phillips 66 (NYSE: PSX) has published its 2024 Sustainability and People Report, combining sustainability and human capital management disclosures for the first time. The report highlights the company's efforts in supplying global energy needs while reducing emissions. Key achievements include the transition of its San Francisco Refinery into the Rodeo Renewable Energy Complex and progress in meeting greenhouse gas (GHG) emission reduction targets. Additionally, the report emphasizes investing in employee development and fostering innovation. Phillips 66 has been transparent in its sustainability practices since its inception in 2012.
Phillips 66 (NYSE: PSX) announced the sale of its 25% non-operated common equity interest in Rockies Express Pipeline (REX) to Tallgrass Energy subsidiary for an enterprise value of $1.275 billion.
This transaction will generate pre-tax cash proceeds of $685 million for Phillips 66 after adjustments. The sale is a part of the company’s initiative to deliver over $3 billion in asset divestitures.
The proceeds will support Phillips 66's strategic priorities, including returns to shareholders. The transaction, expected to close today, will result in Tallgrass Energy owning 100% of REX.
Phillips 66 (NYSE: PSX) will release its second-quarter 2024 financial results on July 30, 2024. The company will host a webcast at noon ET the same day to discuss these results, accessible through the Phillips 66 Investors site. A replay will be available two hours after the event, and a transcript will be provided later.
Phillips 66 announces the launch of a binding open season for shipper commitments on its Blue Line System. The system, operated by Phillips 66 Pipeline, will transport propane and butane from Wichita, Kansas, to Jefferson City, Missouri, and East St. Louis, Illinois. The open season starts on June 7, 2024, and will remain open until July 6, 2024. The transportation services are expected to commence in the winter season of 2024, pending FERC approval. Interested parties must sign a confidentiality agreement to participate.
Phillips 66 (NYSE: PSX) announced that Mark Lashier, chairman and CEO, will participate in a fireside chat at the J.P. Morgan 2024 Energy, Power & Renewables Conference on June 18, 2024, at 10:55 a.m. ET. Alongside Lashier, Kevin Mitchell, executive vice president and CFO, and Jeff Dietert, vice president of Investor Relations, will attend. The discussion will cover the company's strategic priorities and commitment to disciplined capital allocation. The event will be webcast live, with a replay and transcript available later on the Phillips 66 Investors site.
Phillips 66 (NYSE: PSX) announced it will acquire Pinnacle Midland Parent from Energy Spectrum Capital for $550 million. This move aims to expand Phillips 66's natural gas gathering and processing capabilities in the Midland Basin. Pinnacle's assets include the Dos Picos natural gas system, featuring a 220 MMcf/d gas processing plant, 80 miles of pipeline, and 50,000 dedicated acres. The acquisition aligns with Phillips 66's strategy to enhance its midstream business, integrate its asset portfolio, and create sustainable value for shareholders. The deal is expected to close by mid-2024, pending customary closing conditions and regulatory approvals.
Phillips 66 (NYSE: PSX) will host its 2024 Annual Meeting of Shareholders on May 15, 2024, in a virtual-only format. Shareholders can access the meeting online with a control number. A replay and transcript will be available post-meeting.
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