Phillips 66
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- Phillips 66 operates as an integrated downstream energy manufacturing and logistics company with refining, midstream, chemicals, marketing and specialties, and renewable fuels segments; it refines crude oil and other feedstocks into gasolines, distillates, aviation fuels, and renewable diesel at 12 refineries primarily in the United States and Europe with a net capacity of 2.2 million barrels per day; produces and markets ethylene, other olefins, aromatics, styrenics, and specialty chemicals including organosulfur compounds, solvents, and catalysts through its 50% stake in Chevron Phillips Chemical joint venture; provides midstream transportation, terminaling, storage, fractionation, and processing services for crude oil, natural gas liquids, and refined products via pipelines, terminals, and gathering systems; and markets refined petroleum products, base oils, automotive, industrial, and marine lubricants under brands including Phillips 66, Conoco, 76, JET, Kendall, and Red Line through approximately 10,000 outlets mainly in the United States, United Kingdom, Germany, Austria, and Switzerland. Headquartered in Houston, Texas, the company traces its roots to 1875 predecessor entities and emerged as an independent entity via spin-off from ConocoPhillips in 2012. Recent developments include the 2025 acquisition of the remaining 50% interest in WRB Refining LP for $1.4 billion to gain full ownership of the Wood River and Borger refineries; purchases of Pinnacle Midstream for $550 million and EPIC Y-Grade assets for $2.2 billion to expand natural gas gathering, processing, and NGL infrastructure in the Permian Basin and Gulf Coast; advancement of the Rodeo Renewed project converting its San Francisco refinery to renewable fuels production; integration of DCP Midstream operations achieving $500 million in synergies; and announcement of an open season for the Western Gateway Pipeline to connect Mid-Continent refineries to western U.S. markets.
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