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Phillips 66 (PSX)

PSX on New York Consolidated

89.14USD
21 Sep 2017
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Latest Key Developments (Source: Significant Developments)

Phillips 66 Partners announces $2.4 billion acquisition
7:45am EDT 

Sept 22 (Reuters) - Phillips 66 Partners LP :Phillips 66 Partners announces $2.4 billion acquisition.Phillips 66 Partners LP - ‍deal expected to be immediately accretive to unitholders​.Phillips 66 Partners LP - deal consists of ‍consideration of $1.7 billion consisting of cash, debt and partnership units​.Phillips 66 Partners LP - ‍consideration for acquisition is $1.7 billion​.Phillips 66 Partners - ‍total deal value includes $625 million in proportional non-consolidated, non-recourse Bakken pipeline debt and $100 million of MSLP debt​.Phillips 66 Partners LP - ‍acquisition is expected to be immediately accretive to partnership and its unitholders​.Phillips 66 Partners - ‍ reached deal with Phillips 66 to acquire its 25 percent interest in each of Dakota Access, Energy Transfer Crude Oil Company.Phillips 66 Partners LP - ‍partnership will also issue $240 million in new PSXP units to Phillips 66​.Phillips 66 Partners LP - deal‍ with Phillips 66 to also acquire its 100 percent interest in Merey Sweeny​.Phillips 66 Partners-plans to fund deal through combination of debt, proceeds from private placement of equity units, PSXP units issued to Phillips 66.Phillips 66 - ‍in connection with MSLP deal, co will enter 15-year tolling agreement that includes base throughput fee, minimum volume commitment from co.Phillips 66 Partners - ‍reached agreement with Phillips 66 to acquire 25 percent interest in Bakken Pipeline, 100 percent interest in Merey Sweeny​.  Full Article

Phillips 66 says its Freeport Terminal is now operational
Friday, 1 Sep 2017 05:50pm EDT 

Sept 1 (Reuters) - Phillips 66 ::says its Freeport Terminal is operational; operations suspended at Phillips 66-operated Gulf Coast Fractionators plant in Mont Belvieu due to a lack of available storage at the Mount Belvieu Hub.says currently assessing, making repairs & other preparations to begin the process of resuming operations at Sweeny Refinery in Old Ocean, Texas, Beaumont Terminal, Pasadena refined products terminal.  Full Article

Phillips 66 Q2 adjusted earnings per share $1.09
Tuesday, 1 Aug 2017 07:00am EDT 

Aug 1 (Reuters) - Phillips 66 :Phillips 66 reports second-quarter earnings of $550 million or $1.06 per share.Q2 earnings per share $1.06.Q2 earnings per share view $1.01 -- Thomson Reuters I/B/E/S.Q2 adjusted earnings per share $1.09.Qtrly refining's second-quarter earnings were $224 million, compared with $259 million in q1 of 2017.Qtrly midstream's second-quarter earnings were $59 million, compared with $77 million in q1 of 2017.Qtrly chemicals' second-quarter earnings were $196 million, compared with $181 million in q1 of 2017.Phillips 66 - increased quarterly dividend by 11 percent to 70 cents per common share.Qtrly total revenues and other income $24.6 million versus $22.31 million.  Full Article

Phillips 66 sets quarterly dividend of $0.70 per share
Wednesday, 12 Jul 2017 12:30pm EDT 

July 12 (Reuters) - Phillips 66 ::Sets quarterly dividend of $0.70 per share.  Full Article

Phillips 66 says increases quarterly dividend by 11 percent to $0.70per share
Wednesday, 3 May 2017 02:09pm EDT 

May 3 (Reuters) - Phillips 66 :Phillips 66 announces increase in quarterly dividend.Increases quarterly dividend by 11 percent to $0.70per share.  Full Article

Phillips 66 sees Q2 refining crude utilization at mid-90 pct
Friday, 28 Apr 2017 12:57pm EDT 

April 28 (Reuters) - Phillips 66 ::Sees Q2 refining crude utilization at mid-90 pct.Sees Q2 global olefins & polyolefins utilization at mid-90 pct.RINs were still a reduction to realized margin in quarter - conf call.Phillips 66 says reduction to realized margin in quarter due to rins was lesser quarter over quarter - conf call.Phillips 66 CEO says "we've felt like 2017 is going to look like 2016, particularly in front half of the year" - conf call.Phillips 66 says see an opportunity for some margin improvement in the back half of 2017 - conf call.Phillips 66 says through the first quarter and into early april, gas demand looks flattish to us at best - conf call.Phillips 66 says seeing "good global demand" in the petrochemicals business - conf call.Phillips 66 says in near term and certainly in 2017, see less refining capacity coming on globally than past few years - conf call.Phillips 66 says can "certainly afford" $1 billion of sustaining capital, $1.3 billion dividend in 2017 - conf call.Phillips 66 says sees $1 billion to $2 billion share repurchase program in 2017 - conf call.  Full Article

Phillips 66 sees Q2 pre-tax refining turnaround expenses $130 mln-$160 mln
Friday, 28 Apr 2017 12:55pm EDT 

April 28 (Reuters) - Phillips 66 ::Sees Q2 pre-tax refining turnaround expenses $130 million to $160 million - presentation slides.  Full Article

Phillips 66 Q1 earnings per share $1.02
Friday, 28 Apr 2017 07:00am EDT 

April 28 (Reuters) - Phillips 66 ::Phillips 66 reports first-quarter earnings of $535 million or $1.02 per share.Q1 earnings per share $1.02.Q1 adjusted earnings per share $0.56.Phillips 66 - midstream's first-quarter earnings were $77 million, compared with a loss of $1 million in Q4 of 2016.Phillips 66 - company continues to expand its beaumont terminal, which now has 9 million barrels of crude and product storage capacity.Phillips 66 - additional 1.2 million barrels of product storage is planned to be in service by mid-2017 at beaumont terminal.Phillips 66 - refining's adjusted loss was $2 million in Q1 versus adjusted loss of $95 million in Q4.Phillips 66 - qtrly chemicals adjusted earnings $201 million versus $124 million in Q4.Phillips 66 Q1 total revenue and other income $23,712 million versus $17,760 million.  Full Article

Phillips 66 reports SRU emissions at Borger, Texas refinery on April 19
Thursday, 20 Apr 2017 10:19am EDT 

April 20 (Reuters) - Phillips 66 : :Phillips 66 JV Borger, Texas refinery reports a release of sulfur dioxide at unit 43 sulfur recovery unit incinerator stack on April 19.Phillips 66 JV Borger, Texas refinery reports equipment was restarted.Phillips 66 JV Borger, Texas refinery reports emissions from unit 43 SCOT unit incinerator, unit 43 SRU.  Full Article

Phillips 66 Borger, Texas refinery reports process upset
Wednesday, 12 Apr 2017 05:57pm EDT 

Phillips 66 : JV Borger, Texas refinery reports emissions from unit 43 sulfur recovery exceeded 500 lbs of sulfur dioxide and 100 lbs of hydrogen sulfide due to process upset . JV Borger, Texas refinery reports emissions from Derrick flare, SCOT unit incinerator, unit 43 SCOT unit, unit 43 sulfur recovery Source: Texas Commission on Environmental Quality filing [nEMN20S7JF] Refinery capacity: 146,000 barrels per day (Reporting by Apeksha Nair in Bengaluru) ((BLRCEEditorial@thomsonreuters.com)).  Full Article

U.S. refiner Phillips 66 charters foreign vessel after Jones Act waiver- Argus Media

Sept 15 Phillips 66 has chartered a Marshall Islands-flagged vessel, making use of a temporary waiver of the Jones Act that was put in place to meet fuel shortages in the wake of hurricanes Harvey and Irma, Argus Media reported on Thursday.