Phillips 66 - Company Profile
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Business Description
Phillips 66 (Phillips 66) is an integrated downstream energy company that processes, transports, stores and markets products and fuels worldwide.
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R&D Overview
Phillips 66’s R&D efforts focus on new environmental solutions to conform to governmental regulations. The company’s technologies program includes evaluating advantaged crudes; and modeling to reduce energy consumption, and increase product yield and reliability. Phillips 66 consists of nearly 250 scientists and engineers at its energy research organization in Bartlesville, Oklahoma. Phillips 66 has invested in renewable fuel production. It planned to convert its San Francisco Refinery in Rodeo, California to a renewable fuel facility, which is expected to begin commercial operations in 2024. Together with a co-processing facility in the UK they will be able to produce 2.6 million tons of renewable diesel and sustainable aviation fuel a year. In FY2022, it spent US$42 million on R&D, which as a percentage of revenue, stood at 0.02% of its revenue and decreased 10.6% YoY. As of December 2022, the company had 517 active patents in 22 countries, including 405 active patents in the US.
Business Segments
Overview
Includes 50% interest in Chevron Phillips Chemical Company LLC (CPChem), which produces petrochemicals and plastics. Operates manufacturing facilities in Colombia, Belgium, Saudi Arabia, Qatar, Singapore and the US.
Performance
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Overview
Purchases for resale and markets refined petroleum products to customers in the US and Europe. It also manufactures and markets specialty products. Major brands include Phillips 66, Conoco, 76, JET, COOP, Kendall, COPYLENE and Red Line. Principal products include gasoline, distillates, aviation fuels, petroleum coke products, waxes, solvents, polypropylene base oils and lubricants. It has 50% interest in Excel Paralubes, a hydrocracked lubricant base oil manufacturing plant. In FY2022, the segment’s capital expenditure stood at US$89 million, which decreased 55.9% YoY.
Performance
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Overview
Provides the transportation; terminaling and processing of crude oil and refined petroleum products; and transportation storage, processing and marketing of natural gas and natural gas liquids (NGL) in the United States. Operates through Phillips 66 Partners LP and 50% interest in DCP Midstream LLC (DCP Midstream). Assets include gathering and processing, pipelines, fractionation, storage, and export facilities. Includes Transportation, NGL and Other and DCP Midstream business lines. Transportation business supplies crude oil and other feedstock to the refineries and other facilities of Phillips 66, delivers refined and specialty products to the market, and provides terminaling and storage services for crude oil and petroleum products. NGL and other business transports, fractionates, exports and markets NGL. Provides other fee-based processing services. DCP Midstream gathers, processes, transports and markets natural gas and transports, fractionates and markets NGL. The company holds a 22.5% interest in Gulf Coast Fractionators in Mont Belvieu, Texas; a 12.5% interest in the fractionation plant in Mont Belvieu, Texas; a 40% interest in the fractionation plant in Conway, Kansas; and one-third interest in both Sand Hills and DCP Southern Hills pipeline. In FY2022, the segment’s capital expenditure stood at US$1,043 million, which increased 42.3% YoY.
Performance
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Overview
Refines crude oil and other feedstock into petroleum products in the refineries in the US and Europe. Operates refineries in the Atlantic Basin in Europe, Gulf Coast, Central Corridor, and West Coast region. Major refineries are Bayway, Humber, Lake Charles, Sweeny, Ponca City and Los Angeles. Major products include gasoline, distillates and aviation fuels. In FY2022, the segment’s capital expenditure stood at US$928 million, which increased 18.4% YoY.
Performance
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Performance
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Product Categories
Performance
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Performance
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Performance
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Performance
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Geographical Segments
Performance
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Performance
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Performance
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Performance
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