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) and NOVONIX Limited (ASX: NVX, OTC: NVNXF) have entered a technology development agreement to enhance production of advanced anode materials for lithium-ion batteries. This collaboration follows Phillips 66's 16% investment in NOVONIX in 2021, aiming at scaling production and supporting the U.S. battery supply chain. The partnership will focus on manufacturing high-capacity synthetic graphite to improve battery performance while reducing costs and environmental impact.
Phillips 66 Partners LP (NYSE: PSXP) announced a cash distribution of $0.875 per common unit for the fourth quarter of 2021. This distribution is payable on February 14, 2022, to unitholders of record by January 31, 2022. The company operates in the midstream sector, focusing on crude oil, refined petroleum products, and natural gas pipelines and terminals. Notably, all distributions to foreign investors are subject to federal income tax withholding at the highest applicable rate.
Phillips 66 (NYSE: PSX) will host a webcast on January 28, 2022, at noon EST to discuss its fourth-quarter 2021 financial results. The results will be released earlier that day, accompanied by updates on strategic initiatives. The webcast can be accessed via the Phillips 66 Investors site, with a replay available shortly after the event. Phillips 66 is a diversified energy manufacturing and logistics company with $56 billion in assets as of September 30, 2021.
AM Best has affirmed the Financial Strength Rating of A (Excellent) and Long-Term Issuer Credit Ratings of 'a' (Excellent) for Spirit Insurance Company and Radius Insurance Company, with a stable outlook. These ratings reflect their strong balance sheets, adequate operating performance, and robust enterprise risk management. Both companies benefit from financial support as captive insurers for Phillips 66 (PSX), which enhances their operational stability. Spirit and Radius are involved in onshore and limited offshore property and liability businesses, with favorable loss experiences due to effective loss control measures.
Phillips 66 (NYSE: PSX) executives, including CEO Greg Garland, will participate in a fireside chat at the Goldman Sachs Global Energy and Clean Technology Conference on January 5, 2022, at 11 a.m. EST. They will discuss the company's strategic initiatives, focusing on energy transition and disciplined capital allocation. The event can be accessed via the Phillips 66 Investors site, with a replay available shortly after. As of September 30, 2021, Phillips 66 holds $56 billion in assets and employs 14,100 people.
Phillips 66 (NYSE: PSX) announced a $1.9 billion capital program for 2022, allocating $992 million for sustaining capital and $916 million for growth capital, with approximately 45% directed towards lower-carbon opportunities. The Midstream capital plan is set at $703 million, while refining will receive $896 million, focusing on safety, reliability, and the Rodeo Renewed project to produce renewable fuels. Total projected capital spending, including joint ventures, is approximately $3.0 billion.
British Airways has entered into a multi-year agreement with Phillips 66 Limited to supply sustainable aviation fuel (SAF) from the Humber Refinery, marking the first large-scale SAF production in the UK. Starting in early 2022, this partnership aims to power flights while significantly reducing lifecycle CO2 emissions by nearly 100,000 tonnes, equivalent to 700 zero-emission flights from London to New York. This initiative aligns with British Airways' goal of achieving net-zero carbon emissions by 2050, supported by a $400 million investment from its parent company, International Airlines Group.
Members of the Phillips 66 (NYSE: PSX) Executive Leadership Team will participate in a fireside chat at the BofA Securities Global Energy Conference on Thursday, Nov. 18, 2021, at 3 p.m. EST. They will discuss strategic initiatives to enhance their diversified portfolio, focus on lower-carbon efforts, and ensure shareholder returns. The webcast will be available on the Phillips 66 Investors site, with a replay accessible two hours post-event. As of Sept. 30, 2021, the company had $56 billion in assets.
Phillips 66 (NYSE: PSX) has announced the redemption of its entire outstanding principal amount of $450 million in Floating Rate Senior Notes due December 15, 2021. The redemption will be funded using cash on hand. This action reflects the company's commitment to debt reduction, as they aim to pay down a total of $1.5 billion of debt for 2021. The announcement emphasizes a disciplined approach to capital allocation and a potential return to pre-pandemic debt levels.
Phillips 66 (NYSE: PSX) announced plans to convert its Alliance Refinery in Belle Chasse, Louisiana, into a terminal facility, expected to be completed in 2022. This decision follows extensive evaluation and considerations about repairing damage from Hurricane Ida. CEO Greg Garland emphasized the refinery's transformation into a midstream asset due to its existing infrastructure and location. The transition will significantly affect approximately 900 employees and contractors, and the company is committed to supporting them through this change. Phillips 66 continues to operate 12 refineries in the U.S. and Europe.