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) released its 2021 Human Capital Management Report, highlighting its strategies to foster a diverse and high-performing workforce in the energy sector. The report emphasizes the importance of innovation, collaboration, and employee development as the company adapts to the energy transition. Key areas addressed include progress toward inclusion, investment in employee skills, and a commitment to transparency and accountability. With $56 billion in assets as of December 31, 2021, Phillips 66 continues to prioritize employee well-being and organizational growth.
TortoiseEcofin has announced its quarterly rebalancing updates for various indices, effective March 18, 2022. Notable deletions include Aalberts NV (AALB NA) and Sulzer AG (SUN SW) from the Ecofin Global Water ESG Index. New additions to this index include Kitz Corp (6498 JP) and Lixil Corp (5938 JP). The Ecofin Global Digital Payments Infrastructure Index will see deletions of Yiren Digital Ltd (YRD US) and Boku Inc (BOKU LN), while Wise PLC (WISE LN) will be added. The Tortoise Decarbonization Infrastructure Index will also delete Eos Energy Enterprises Inc (EOSE US) and Romeo Power Inc (RMO US).
Phillips 66 (NYSE: PSX) has successfully completed its merger with Phillips 66 Partners (NYSE: PSXP), acquiring all limited partnership interests not already owned. Each PSXP unitholder received 0.50 shares of PSX common stock for each PSXP common unit. As a result, PSXP's common units will no longer be publicly traded effective March 9, 2022. Phillips 66, headquartered in Houston, has a diverse portfolio in energy manufacturing and logistics, with approximately $56 billion in assets as of December 31, 2021.
TortoiseEcofin has announced that Phillips 66 Partners LP (NYSE:PSXP) will be removed from the Tortoise MLP Index and the Tortoise North American Pipeline Index due to its approved merger with Phillips 66 (NYSE:PSX). This removal will occur at market open on March 9, 2022. The rebalancing in both indices is triggered by corporate actions that exceed certain weighting thresholds. This change reflects the ongoing consolidation within the energy sector and showcases TortoiseEcofin’s adherence to its established methodologies.
Phillips 66 (NYSE: PSX) aims to cut its greenhouse gas emissions intensity by 50% by 2050, enhancing its prior targets. This commitment reflects the company's strategy to support the Paris Agreement and contribute to climate solutions while creating shareholder value. The 2022 capital program includes $1.9 billion, with 45% allocated to lower-carbon projects. Phillips 66 is actively pursuing opportunities in renewable energy and has a dedicated research group for developing lower-carbon technologies. CEO Greg Garland emphasized the need for broader systemic changes to achieve emissions reduction goals.
Phillips 66 Partners LP (NYSE: PSXP) has submitted its annual report on Form 10-K for the fiscal year ending December 31, 2021, to the SEC. The report includes audited financial statements and can be accessed on the Partnership's website and the SEC’s site. Unitholders can request a hard copy of the report free of charge by contacting Phillips 66 in Bartlesville, OK. Phillips 66 Partners is a master limited partnership focused on owning and operating midstream assets, including pipelines and terminals for crude oil and natural gas liquids.
The board of directors of Phillips 66 (PSX) has declared a quarterly dividend of 92 cents per share. This dividend is scheduled for payment on March 1, 2022, to shareholders on record as of February 22, 2022. With a diverse portfolio in energy manufacturing and logistics, Phillips 66 reported $56 billion in assets as of December 31, 2021, and employs around 14,000 individuals dedicated to operational excellence.
Phillips 66 (NYSE: PSX) and H2 Energy Europe have launched a joint venture to establish up to 250 hydrogen refueling stations in Germany, Austria, and Denmark by 2026. The collaboration aims to enhance the hydrogen infrastructure through a 50-50 partnership focused on combining the strengths of both companies. Phillips 66's extensive retail presence will facilitate the initiative, while H2 Energy will handle hydrogen production and logistics. The venture is contingent on regulatory approvals and is seen as a step towards a lower-carbon future.
Phillips 66 Partners LP (PSXP) reported fourth-quarter 2021 earnings of $286 million, or $1.19 per diluted common unit. Adjusted EBITDA increased to $400 million from $367 million in the previous quarter, fueled by deferred revenue recognition and higher volumes. Cash from operations was $302 million with distributable cash flow of $267 million. The board declared a cash distribution of $0.875 per common unit. Phillips 66 also announced plans to acquire all publicly held units of PSXP, with the merger expected to close in Q1 2022.
Phillips 66 reported Q4 2021 earnings of $1.3 billion or $2.88 per share, with adjusted earnings of $1.3 billion or $2.94 per share. The company generated $1.8 billion in operating cash flow and approved a $1.9 billion capital program for 2022. They initiated operations of the C2G Pipeline and increased the quarterly dividend to 92 cents per share. Full-year 2021 results showed $6.0 billion in operating cash flow, with record earnings in Midstream, Chemicals, and Marketing.