Profile: Phillips 66 (PSX)
7 Mar 2014
Phillips 66, incorporated on November 10, 2011, is an energy manufacturing and logistics company with midstream, chemicals, refining, and marketing and specialties businesses. The Company operates in Midstream, Chemicals, Refining and, Marketing and Specialties. It offers several products and services that provide businesses with fuels, lubricants, chemicals, specialty products and other solutions. Phillips 66 Pipe Line Company operates more than 11,000 miles of pipelines and more than 60 storage terminals in the United States and transports both raw and finished petroleum products. Phillips Specialty Products Inc. (PSPI), a wholly owned subsidiary of the Company, operates the Company's flow improver business. In February 2013, the Company formed Phillips 66 Partners, to own, operate, develop and acquire primarily fee-based crude oil, refined petroleum product and natural gas liquids (NGL) pipelines and terminals, as well as other transportation and midstream assets.
Midstream gathers, processes, transports and markets natural gas; and transports, fractionates and markets NGL in the United States. In addition, this segment transports crude oil and other feedstocks to its refineries and other locations, and delivers refined and specialty products to market. Chemicals segment manufactures and markets petrochemicals and plastics on a worldwide basis. Refining segment buys, sells and refines crude oil and other feedstocks at 15 refineries, mainly in the United States, Europe and Asia. Marketing and Specialties purchases for resale and markets refined products, mainly in the United States and Europe. In addition, this segment includes the manufacturing and marketing of specialty products (such as lubricants and flow improvers), as well as power generation operations. The Midstream segment includes its 50% investment in DCP Midstream, LLC (DCP Midstream). The Chemicals segment consists of its 50% equity investment in Chevron Phillips Chemical Company LLC (CPChem.
3010 Briarpark Drive
HOUSTON TX 77042