Phillips 66 – Digital Transformation Strategies
The annual ICT spending of Phillips 66 was estimated at $847.7 million in 2021. A major share of this spending is earmarked for acquiring ICT services, software, and hardware from vendors. Phillips 66 is an integrated energy company that operates through four business segments: midstream, chemicals, refining, and marketing and specialties.
The Phillips 66 digital transformation strategies report will act as a reference point to understand the company/competitor’s digital strategy. It will also help in understanding the digital preparedness of the company against its peers. Information included in these reports are 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 report covers overview of the company, its digital transformation strategies, technology focus areas, technology initiatives, technology introductions, investments, acquisitions, ICT spending among others.
Digital Transformation Strategies
Phillips 66 is focusing on deriving insights from big data to plan production at its oil and gas refineries as per demand fluctuation. The company uses real-time and historic data pertaining to demand, prices, production capacity, etc. to plan and manage production in line with the fluctuating demand and prices. Effective use of data analytics is helping the company to remain competitive and pivot quickly during the COVID-19 pandemic that has resulted in unprecedented fluctuations in demand for oil. The company is also utilizing artificial intelligence (AI) and machine learning (ML) technologies to predict maintenance requirements of equipment at its plants.
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Phillips 66 Technology Theme Focus
Phillips 66 is utilizing a number of emerging technologies including artificial intelligence, big data, and 5G to improve operational efficiency, diversify product portfolio, improve the safety of workers, and contribute to a lower-carbon future.
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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, acquisitions, and technology investments over the past few years.
For instance, 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. The agreement is in line with Phillips 66’s strategy to support the development of America’s electric battery supply chain and emerge as a key player in the American electric vehicle supply chain.
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Phillips 66 ICT Spend by Function
- Communications
- Data center
- Network
- Application
- End-user computing
- Service desk
- Management
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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
For more insights on ICT spending by channel, download a free report sample
Phillips 66 External ICT Spend by Segment
- ICT services
- Software (including Cloud SaaS)
- Hardware (including Cloud Iaas)
- Network and communications
- Consulting
- Others
For more insights on external ICT spending by segment, download a free report sample
Phillips 66 Digital Transformation Strategies Overview
| Total ICT Spending 2021 | $847.7 million |
| ICT Spend by Function | Communications, Data Center, Network, Application, End-User Computing, Service Desk, and Management |
| 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 | ICT services, Software (including Cloud SaaS), Hardware (including Cloud Iaas), Network and communications, Consulting, and Others |
| Technology Theme Focus | Artificial Intelligence, Big Data, and 5G |
Phillips 66 – Digital Transformation Strategies Report Scope
This report provides:
- Insight into Phillips 66’s technology activities.
- Insights of its digital transformation strategies and technology center & innovation program.
- Overview of technology initiatives covering partnerships, investments, and acquisitions.
- Insights on each technology initiative including technology theme, objective, and benefits.
- Details of estimated ICT budgets and major ICT contracts.
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, investments and acquisitions.
Key Players
Table of Contents
Frequently Asked Questions
The annual ICT spending of Phillips 66 was estimated at $847.7 million in 2021.
The key ICT spending categories by function for Phillips 66 are communications, data center, network, application, end-user computing, service desk, and management.
The key ICT spending categories by channel for Phillips 66 are internal development and maintenance, technology vendors (direct), local resellers, telcos, ICT services providers/consulting firms, specialist outsourcers, and systems integrators.
The key external ICT spending categories by segment for Phillips 66 are ICT services, software (including cloud SaaS), hardware (including cloud IaaS), network and communications, consulting, and others.
Some of the key technological theme in focus for Phillips 66 are artificial intelligence, big data, and 5G.
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