Phillips 66 – Digital Transformation Strategies

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Published: October 28, 2024 Report Code: GDDT0901ES-ST

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Phillips 66 Digital Transformation Strategies Overview

Phillips 66 has been focusing on using artificial intelligence, cloud-based applications, big data to digitally transform its operations. The annual ICT spending of Phillips 66 was estimated at $806.9 million for 2024. A major share of this spending is earmarked for acquiring software, hardware, and ICT services from vendors. Phillips 66 is an integrated energy company that operates through four business segments: midstream, chemicals, refining, and marketing and specialties. The midstream segment is engaged in transporting, terminalling, and processing crude oil and refined petroleum products, and transporting, storing, processing, and marketing natural gas and natural gas liquids. The chemicals segment includes Phillips 66’s 50% investment in Chevron Phillips which is engaged in manufacturing and marketing plastics and petrochemicals across the world. The refining segment refines crude oil and other feedstocks into aviation fuels, distillates, and gasoline. The marketing and specialties segment markets refined petroleum products, primarily in the US and Europe. It is also engaged in producing and marketing lubricants, base oils, and other such specialty products. Some of the company’s well-known brands are Phillips 66, Conoco, 76, JET and COOP, Kendall, and Red Line. The company operates in the US, Europe, Asia, the Middle East, and Africa.

 The ‘Phillips 66 digital transformation strategies’ report will act as a reference point to understand a company/competitor’s digital strategy. It will also help in understanding the digital preparedness of the company against its peers. The information included in these reports is sourced from a mix of our very own internal database and authentic secondary research links such as company’s annual report, presentations, press releases etc. The digital transformation strategies – Phillips 66 report covers an overview of the company, its digital transformation strategies, technology focus areas, technology partnerships, technology introductions, acquisitions, and ICT spending among others.

Phillips 66 Digital Transformation Strategies Overview

Total ICT Spending 2024 $806.9 million
ICT Spend by Function Data center, Communications, Network, Application, End-User computing, Management, and Service desk
ICT Spend by Channel Internal development and maintenance, Technology vendors (direct), Local resellers, Telcos, ICT services providers/consulting firms, Specialist outsourcers, and Systems integrators
External ICT Spend by Segment Software (including cloud SaaS), Hardware (including cloud IaaS), ICT services, Consulting, Network and communications, and Others
Technology Theme Focus 5G, cloud, robotics, future of work and renewable energy
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Digital Transformation Strategies

Phillips 66 migrated its on-premises data infrastructure to the cloud using Amazon FSx for NetApp ONTAP. This transition allows the company to maintain the familiarity of its NetApp ONTAP environment while leveraging the scalability, agility, and cost benefits of AWS. The migration involved transferring over 300 TB of DR data and additional production workloads without disrupting business operations. Phillips 66 uses SnapMirror to replicate data securely, eliminating the need for rearchitecting its applications.

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Phillips 66 Technology Theme Focus

Phillips 66 is utilizing a number of emerging technologies including 5G, cloud, robotics, future of work and renewable energy among others to enhance its operational and service capabilities.

Phillips 66 Technology Focus

Phillips 66 Technology Focus

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Phillips 66 Technology Initiatives

Phillips 66 has been involved in several strategic technology partnerships and collaborations, technology developments and roll outs, and acquisitions over the last few years. For instance, in 2022, Phillips 66 entered into a technology development agreement with NOVONIX, an Australia-based manufacturer and supplier of materials, services, and equipment to manufacturers of lithium-ion batteries across the world, to produce and sell advanced anode materials for use in lithium-ion batteries.

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Phillips 66 ICT Spend by Function

  • Data center
  • Communications
  • Network
  • Applications
  • End-user computing
  • Management
  • ICT Service desk

Phillips 66 ICT Spend by Function, 2024 (%)

Phillips 66 ICT Spend by Function, 2024 (%)

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Phillips 66 ICT Spend by Channel

  • Internal development and maintenance
  • Technology vendors (direct)
  • Local resellers
  • Telcos
  • ICT services providers/consulting firms
  • Specialist outsourcers
  • Systems integrators

Phillips 66 ICT Spend by Channel, 2024 (%)

Phillips 66 ICT Spend by Channel, 2024 (%)

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Phillips 66 External ICT Spend by Segment

  • Software (including Cloud SaaS)
  • Hardware (including Cloud IaaS)
  • ICT services
  • Consulting
  • Network and communications
  • Others

Phillips 66 External ICT Spend by Segment, 2024 (%)

Phillips 66 External ICT Spend by Segment, 2024 (%)

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Scope

This report provides:

  • Insight into Phillips 66’s technology activities.

  • Overview of technology initiatives covering partnerships, technology introductions, and acquisitions.

  • Insights on each technology initiative including technology theme, objective, and benefits.

  • Details of estimated ICT budgets.

Reasons to Buy

  • Gain insights into Phillips 66’s technology operations.

  • Gain insights into its technology strategies and innovation initiatives.

  • Gain insights into its technology themes under focus.

  • Gain insights into its various partnerships.

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Table of Contents

  • Overview

    • – Brief information about the company, its business divisions, and its financials

  • Digital Transformation Strategy

    • – A summary of key digital strategies/implementation efforts of the company

  • Accelerators, Incubators, and Other Innovation Programs

    • – Discusses the company’s key strategic units, innovation labs, incubation and accelerator programs dedicated to technology innovation

  • Technology Focus

    • – Lists the technology themes pertinent to the industry the company operates in and highlights the themes adopted by the company

  • Technology Initiatives

    • – Discussion about all the technology introductions & partnerships the company has entered

  • Investment

    • – Brief discussion about the investments made by the company to acquire new technologies

  • Acquisitions

    • – Brief discussion about the acquisitions by the company

  • Partnership, Investment & Acquisition Network Map

    • – A bird’s eye view of all the partnerships/investments/acquisitions that the company has made in the last 3-5 years

  • ICT Budget and Contracts

    • – The company’s ICT budget segregated into hardware, software, and managed IT services

  • Key Executives

    • – Lists key executives and Digital Transformation Executives of the company, typically the key decision makers/influencers

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