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Phillips 66

(Lisa Poole / AP2009)

Phillips 66 posts big gain in earnings

Refining profits alone jumped 80 percent thanks to cheap feedstock from low oil prices and stronger margins.
(AP Photo/Lisa Poole, File)

Phillips 66 names new CFO

Phillips 66 Vice President of Investor Relations Kevin Mitchell, 49, will become the executive vice president of finance and CFO on Jan. 1 after Maxwell steps down, Phillips 66 said Friday in a filing with the U.S. Securities and Exchange Commission.

Phillips 66 grows in Texas, Louisiana to feed refineries

Construction recently began for a new hydrotreater at the Lake Charles Refinery to meet federal Tier 3 standards for lower sulfur content in gasoline for the beginning of 2017.
Sweeny is the largest refinery by capacity in the portfolio of Phillips 66, Houston’s biggest Fortune 500 company. (Ryan Holeywell/Houston Chronicle)

Phillips 66 delays Sweeny startup after mechanical failure

The 100,000-barrel-a-day Fractionator One project at Phillips 66’s Sweeny complex is part of a $3 billion capital expansion project in southern Texas launched last year.
Phillips 66 Chairman and CEO Greg Garland.  ( James Nielsen / Houston Chronicle )

Phillips 66 cuts its capital budget nearly 20 percent

Phillips 66 also will move forward with a $2 billion share buyback program. Nearly 80 percent of Phillips 66’s growth capital is directed toward its midstream expansions in pipelines, storage and export terminals.
A very large smokestack flare burns off flammable product after an explosion in a processing facility at the ExxonMobil refinery in Torrance, Calif. on Wednesday, Feb. 18, 2015. A small ground fire was quickly extinguished and the facility's flare system was triggered for safety reasons. Two workers suffered minor injuries. (AP Photo/Daily Breeze, Chuck Bennett)

Exxon Mobil’s Torrance refinery may not ramp up until 2016

The extended delay could leave the refinery operating an no more than 20 percent capacity for a full 12 months after the facility was damaged in an explosion on Feb. 18. The primary piece taken out of commission was the electrostatic precipitator, or ESP, which is a large emission-controlling device.
Warren Buffett -- chairman, president & CEO of Berkshire Hathaway -- gestures during a 2013  interview.  (AP Photo/Nati Harnik, File)

Berkshire Hathaway picks up another 3.5 million Phillips 66 shares

Buffett said in interviews earlier this week that Berkshire Hathaway had bought more than 10 percent of Phillips 66 stock because he really likes that company’s mix of refining and chemical businesses.
Charles Simmons, left, and Bryan Braham face the demethanizer tower at the West Beaumont Plant of DCP Midstream Friday June 8, 2012 in Beaumont, TX. (Freelance/Houston Chronicle)

Phillips 66, Spectra Energy pump another $1.5 billion into DCP Midstream

The infusion of capital and hard assets is the latest step that Phillips 66 and Spectra have taken to support Denver-based DCP Midstream, a 50-50 joint venture between the two companies.
A worker at Valero Energy's refinery in Three Rivers, Texas, Oct. 12, 2012. (Michael Stravato/The New York Times)

This summer’s high gas demand could lead to a heavier maintenance season for refineries

The summer saw high gasoline demand and ever-cheapening prices at the pump, but the fall is expected to see up to 1.3 million fewer barrels of crude oil a day processed into gasoline by refineries while some plants are temporarily shut down, said analyst Brad Heffern of RBC Capital Markets.
Welders work on a stretch of the Texas Express Pipeline  during construction in the Texas Panhandle in April, 2013. The company's owners said Oct. 31, 2013, that the natural gas liquids pipeline had begun carrying products from Skellytown in Carson County to processing and storage facilities in Mont Belvieu, about 30 miles east of Houston. Houston-based Enterprise Products Partners operates the pipeline, and co-owns it with  Enbridge Energy Partners, Anadarko Petroleum, and  DCP Midstream Partners.

Navitas Midstream buys DCP pipes

The deal will send about 1,000 miles of natural gas gathering pipelines and 60-million cubic foot processing plant from Denver-based DCP Midstream to The Woodlands-based Navitas.