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) will host a webcast at noon EDT on Friday, Oct. 29, to discuss its third-quarter 2021 financial results. The results will be released earlier that day, along with updates on strategic initiatives. The webcast can be accessed via the Phillips 66 Investors site, with a replay available shortly after the event.
As of June 30, 2021, Phillips 66 managed $57 billion in assets and employs over 14,000 individuals globally.
Phillips 66 Partners (NYSE: PSXP) will hold a webcast at 2 p.m. EDT on Friday, Oct. 29 to discuss its third-quarter 2021 financial results and operational updates. The results will be released earlier that day. Investors can access the webcast through the Events and Presentations section of the Phillips 66 Partners Investors site, with a replay available two hours post-event. Headquartered in Houston, Phillips 66 Partners focuses on owning and operating midstream assets, including pipelines and terminals.
Phillips 66 (NYSE: PSX) has announced an additional $500,000 contribution to the American Red Cross for Hurricane Ida relief, bringing its total donation to $1 million. The Category 4 hurricane severely impacted the Northeast, especially location value="LS/us.la"Louisiana. All Phillips 66 employees in affected areas are safe. The company supports recovery efforts while maintaining a commitment to safety and operational excellence.
Phillips 66 (NYSE: PSX) announced a $500,000 contribution to the American Red Cross to aid Hurricane Ida relief efforts in southeastern Louisiana. The hurricane, which struck on August 29, caused widespread devastation and power outages. All of Phillips 66's nearly 500 employees in the affected area are confirmed safe. The American Red Cross expressed gratitude for the support, highlighting its importance in providing shelter and assistance to thousands impacted by the disaster. Phillips 66, based in Houston, operates across energy sectors with $57 billion in assets as of June 30, 2021.
Phillips 66 (NYSE: PSX) has announced its agreement to acquire a 16% stake in NOVONIX Limited (ASX: NVX, OTC: NVNXF) for US$150 million. This investment aims to bolster the U.S. battery supply chain and supports NOVONIX’s capacity expansion to produce synthetic graphite, crucial for lithium-ion batteries. The deal involves Phillips 66 subscribing to 77,962,578 ordinary shares and will allow them to nominate one director on NOVONIX's Board. The investment aligns with Phillips 66’s commitment to lower-carbon solutions and is subject to NOVONIX shareholders' approval.
Phillips 66 is enhancing its advanced analytics capabilities through an investment in Seeq, a software developer for process manufacturing data analytics. This marks the first investment from Phillips 66's Digital Ventures team, part of the AdvantEdge66 program aimed at digital transformation. Zhanna Golodryga, Chief Digital Officer, highlighted the potential of data to drive innovation and improve products. Seeq, based in Seattle, offers Industrial Internet of Things applications to visualize and analyze manufacturing data, helping stakeholders optimize operations and outcomes.
Phillips 66 (PSX) reported a second-quarter 2021 profit of $296 million, a notable recovery from a $654 million loss in Q1 2021. Adjusted earnings totaled $329 million, contrasting sharply with an adjusted loss of $509 million in the previous quarter. The uptick was driven by strong demand post-winter storms, particularly in the Chemicals segment, which saw adjusted pre-tax income rise to $657 million. However, Refining continued to struggle with a pre-tax loss of $706 million. The company remains committed to lower-carbon initiatives and returned $394 million in dividends to shareholders.
Phillips 66 (NYSE: PSX) has announced a change in the timing of its second-quarter earnings conference call, now set for 1 p.m. EDT on August 3, 2021. During the call, executive management will discuss the company's financial results and strategic initiatives. The earnings report will be released earlier that day. Investors can access the webcast via the company’s website, with replays and transcripts available post-event.
As of March 31, 2021, Phillips 66 reported $55 billion in assets and operates a diversified energy portfolio.
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The board of directors of Phillips 66 (PSX) has appointed Denise R. Cade and Douglas T. Terreson as independent directors, effective July 14, 2021. Cade will serve on the audit and finance committee as well as the public policy and sustainability committee, while Terreson will join the human resources and compensation committee along with the public policy and sustainability committee. This brings the total number of directors to 11, with 10 being independent. Cade and Terreson bring extensive experience from various sectors, enhancing the board's expertise in legal and energy industries.