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 world wide. It primarily engages in refining crude oil and other feedstocks into petroleum products, manufacturing and marketing petrochemicals and plastics, and processing renewable feedstocks into renewable products. The company operates through five business segments: Midstream, Chemicals, Refining, Marketing and Specialties, Renewable Fuels and Corporate and Other. In FY2025, the company's capital expenditure stood at US$2,233 million, which accounted for 1.7% of its total revenue and declined 20.1% YoY. Geographically, the company operates in the US, the UK, Germany and Other Countries.
R&D Overview
Phillips 66's Energy Research and Innovation organization is focused on developing technical solutions to advance its business and address future energy challenges. The organization is involved in feedstock characterization, renewables processing, and process optimization to enhance margins and reliability in the company's Refining, Midstream, marketing and specialities, and Renewable Fuels segments. The company is also engaged in renewable fuels research and the development of new technologies, although these efforts are subject to various external factors such as government regulation, technological changes, and competition. The research and development unit of Phillips 66 is the Energy Research & Innovation organization, located in Bartlesville, Oklahoma. This unit is responsible for managing the company's R&D activities, including working in laboratories and pilot plants to develop technical solutions and new technologies. The company also has two research and development centers in the US through its Chemicals segment's 50% equity investment in CPChem. In FY2025, the company spent US$6 million, which decreased 60% YoY.
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, Kendall, 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 FY2025, the segment incurred a capital expenditure of US$118 million, which grew 38.8% 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, along with direct and indirect interest of 86.8% 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 223% interest in Gulf Coast Fractionators in Mont Belvieu, Texas; a 20% interest in the fractionation plant in Mont Belvieu, Texas; a 40% interest in the fractionation plant in Conway, Kansas; 25% interest in Enterprise fractionators, Texas; and 100% interest in Coastal Bend Fractionators and Sweeny Fractionators in Texas; In FY2025, the segment incurred a capital expenditure of US$1,231 million, which grew 63.9% 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, and Ponca City. Major products include gasoline, distillates, and aviation fuels. In FY2025, the segment incurred a capital expenditure of US$776 million, which grew 33.3% YoY.
Performance
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Overview
Engages in the processing of feedstocks into renewable products. Operates through its facility at Rodeo Complex and at its Humber Refinery. Includes activities related to the procurement of renewable feedstocks, management of regulatory credits, and markets renewable fuels. In FY2025, the segment incurred a capital expenditure of US$56 million, which declined 85.1% YoY.
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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