Phillips 66

Phillips 66 is a diversified energy manufacturing and logistics company with roots stretching back to 1875, operating as a modern entity since its 2012 spin-off from ConocoPhillips. The company operates through five integrated business segments: Refining, Midstream, Marketing and Specialties, Chemicals, and Renewable Fuels, making it one of the largest downstream energy companies in the United States.

With a portfolio of 13 refineries primarily in the United States with a total refining capacity of 2.2 million barrels per day, Phillips 66 processes crude oil into essential petroleum products including gasoline, distillates, and aviation fuels. The company's Midstream segment provides critical infrastructure for transporting crude oil and refined products, operating extensive pipeline networks, terminals, and natural gas processing facilities. Through its Marketing and Specialties division, Phillips 66 reaches consumers through well-known brands including Phillips 66, Conoco, 76, and JET, operating a network of 7,000 branded retail sites across North America and Europe.

In 2024, Phillips 66 generated $145.5 billion in revenue while executing a strategic transformation focused on midstream growth and renewable energy expansion. The company completed significant acquisitions including the $2.2 billion purchase of EPIC NGL (renamed Coastal Bend) and announced plans to acquire full ownership of the Wood River and Borger refineries for $1.4 billion. Simultaneously, Phillips 66 is optimizing its refining portfolio, announcing the closure of its Los Angeles Refinery by year-end 2024 and divesting its 65% stake in its Germany and Austria retail business for $1.6 billion.

The company's Renewable Fuels segment is advancing the energy transition through its Rodeo Renewable Energy Complex, which produces renewable diesel and sustainable aviation fuel at scale. Phillips 66's Chemicals division, operating through its stake in Chevron Phillips Chemical Company, produces ethylene, olefin products, aromatics, and styrenics. With over 14,000 employees and operations across the United States, United Kingdom, and Germany, Phillips 66 is positioning itself for long-term success by strengthening its NGL wellhead-to-market value chain while maintaining operational excellence in traditional refining and marketing operations.