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Phillips 66 Sees Q1 Adjusted Net Loss Attributable Upto $700 Million
Phillips 66 Says CEO Greg Garland's FY 2020 Total Compensation Without Change In Pension Value Was $18.1 Mln
Phillips 66 And Faradion Developing Sodium-Ion Battery Materials
Phillips 66 is an energy manufacturing and logistics company with midstream, chemicals, refining, and marketing and specialties businesses. The Company operates through four segments: Midstream, Chemicals, Refining, and Marketing and Specialties (M&S). The Midstream segment gathers, processes, transports and markets natural gas, and transports, stores, fractionates and markets natural gas liquids (NGLs) in the United States. The Chemicals segment consists of its equity investment in Chevron Phillips Chemical Company LLC (CPChem), which manufactures and markets petrochemicals and plastics. The Refining segment buys, sells and refines crude oil and other feedstocks at refineries in the United States and Europe. The M&S segment purchases for resale and markets refined petroleum products, such as gasolines, distillates and aviation fuels, primarily in the United States and Europe, as well as includes the manufacturing and marketing of specialty products, and power generation operations.
Oil & Gas Operations
2331 Citywest Blvd
Gregory C. Garland
Chairman of the Board, Chief Executive Officer
Mark E. Lashier
President, Chief Operating Officer
Kevin J. Mitchell
Chief Financial Officer, Executive Vice President - Finance
Paula A. Johnson
Executive Vice President - Legal and Government Affairs, General Counsel, Corporate Secretary
Brian M. Mandell
Executive Vice President - Marketing and Commercial
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U.S. refiner Phillips 66 on Monday predicted that its first-quarter loss would be larger than expected, citing the severe winter cold snap that battered its U.S. Gulf Coast petrochemical operations.
Restoring electricity to the Phillips 66’s 260,000 barrel-per-day (bpd) Lake Charles, Louisiana, refinery could take up to three weeks, said sources familiar with plant operations on Tuesday.
Phillips 66 will shut its Lake Charles terminals and pipelines in Louisiana and its Gulf Coast lubricants plant by mid-day Wednesday, in addition to its refining complex, as hurricane Laura approached the U.S. Gulf coast.
Preparing for tropical storm Laura, Phillips 66 began the shutdown on Monday of its Lake Charles manufacturing complex in Louisiana, which includes its 260,000 barrels per day refinery.
(This Aug 12 story corrects the location of the Santa Maria refining facility.)
U.S. refiner Phillips 66 said on Wednesday it plans to reconfigure its refinery in Rodeo, California to produce renewable fuels from used cooking oil, fats, greases and soybean oils.
Millions of barrels of oil refinery capacity might permanently close across the global energy complex after being lost when demand crashed during the coronavirus pandemic, U.S. refiners said on Friday.
U.S. refiner Phillips 66 on Friday reported a quarterly loss, as coronavirus-led restrictions on businesses and travel destroyed fuel demand and hurt margins.
The number of COVID-19 cases among Phillips 66 employees is growing, with 57 active cases, the company told employees in an email seen by Reuters on Friday.
Phillips 66 is repairing a butane deasphalting unit at its said its 258,500 barrel-per-day Bayway refinery in Linden, New Jersey following a power outage that caused a shut down on Thursday, according to a source familiar with the matter.
Ecuador's state-run oil company Petroecuador said on Tuesday it had awarded U.S. refiner Phillips 66 the right to buy 3.6 million barrels of Oriente crude in a spot-market tender launched earlier this week.
* BERKSHIRE HATHAWAY: CHANGE IN HOLDINGS ARE AS OF MARCH 31, 2020 AND COMPARED WITH PREVIOUS QUARTER ENDED AS OF DEC. 31, 2019 Source for the quarter ended December 31, 2019: https://bit.ly/3bzLcAX
Warren Buffett's Berkshire Hathaway Inc on Friday reported a significantly reduced stake in Goldman Sachs Group Inc, and that it no longer invests in the insurer Travelers Cos and oil refiner Phillips 66 .
Phillips 66 reported a $2.5 billion first quarter net loss on Friday, after taking $3 billion in writedowns in its refining and transportation businesses as demand for jet fuel and gasoline evaporated.
U.S. refiner Phillips 66 reported a quarterly loss on Friday compared with a year-ago profit, hit by a crash in demand for its refined products amid the ongoing COVID-19 pandemic.
* PHILLIPS 66 SAYS CEO GREG GARLAND'S FY 2019 TOTAL COMPENSATION WAS ABOUT $22.0 MILLION VERSUS $19.3 MILLION IN FY 2018 - SEC FILING
Phillips 66 is delaying three sizeable scheduled shutdowns at its refineries this year, the company said on Tuesday, because of concerns that coronavirus could spread among the refineries' workers if the maintenance goes ahead.
Refiner Phillips 66 <PSX.N> on Tuesday cut its 2020 spending forecast by about 18% and assured investors their dividend was secure even as the coronavirus outbreak and a price war between Saudi Arabia and Russia threaten the oil market with massive oversupply.
Refiner Phillips 66 on Tuesday cut its spending forecast for the year as the coronavirus outbreak and a price war between Saudi Arabia and Russia threaten the oil market with massive oversupply.
Phillips 66 cut production on Tuesday at its 139,000-barrel-per-day (bpd) Los Angeles refinery due to loss of demand because of the coronavirus pandemic, said a source familiar with plant operations.
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