BATON ROUGE, LOUISIANA (By Pietro D. Pitts, Energy Analytics Institute, 27.Feb.2026, Words: 443) — Valero Energy is positioning to capitalize on improved access to the Venezuelan market as sanctions imposed on US president Donald Trump ease and trade flows reopen. Valero has engaged with 3 authorized sellers of Venezuelan crude oil […]
Tag: Phillips 66
Motiva buys cargo of Venezuelan heavy oil for March delivery; first purchase since 2019
NEW YORK, NEW YORK (By Reuters: Nicole Jao, Arathy Somasekhar and Georgina McCartney, 26.Feb.2026, Words: 311) — Saudi Aramco’s US trading division bought a cargo of Venezuelan Boscan crude for March delivery, its first purchase of the heavy crude suited for asphalt making, sources familiar with the deal said on Thursday. The […]
EAI brief: US energy stocks from Exxon to Chevron rise on Venezuelan oil sector prospects
ATLANTA, GEORGIA (By Chad Archey, Energy Analytics Institute, 6.Jan.2026, Words: 181) — Select US energy stocks were on the front foot on major stock exchanges on the prospect of returning to Venezuela after the ouster of its leader Nicolás Maduro and his wife Cilia Flores in the early AM hours of […]
![Phillips 66 Announces $2.2bn EPIC NGL Acquisition [PDF Download]](https://energy-analytics-institute.org/wp-content/uploads/2025/01/plant-ngls-source-epic.png)
Phillips 66 Announces $2.2bn EPIC NGL Acquisition [PDF Download]
(Steve Stewart, Energy Analytics Institute, 6.Jan.2025) — Phillips 66 entered into a definitive agreement to buy EPIC Y-Grade GP, LLC and EPIC Y-Grade, LP, which own various subsidiaries and long haul natural gas liquids (NGLs) pipelines, fractionation facilities and distribution systems (EPIC NGL) for total cash consideration of $2.2bn, subject […]
Phillips 66 to Divest Gulf Coast Express for $865mn
(Steve Stewart, Energy Analytics Institute, 16.Dec.2024) — Phillips 66 entered into a definitive agreement to divest DCP GCX Pipeline LLC, which owns a 25% non-operated equity interest in Gulf Coast Express Pipeline LLC, to an affiliate of ArcLight Capital Partners, LLC for pre-tax total cash proceeds of $865mn, subject to […]
Phillips 66 Nears Non-Core $3bn Asset Divestment Target
(Energy Analytics Institute, 4.Nov.2024) — Phillips 66 is very close to achieving its $3bn non-core asset divestment target, the company said in its most recent investor update. Phillips 66 has achieved $2.7bn of the target, the company announced in its Nov. 2024 investor update presentation on its website. The deal […]
Phillips 66 to Shut Refinery, End Gasoline Output in Los Angeles
(Reuters, 16.Oct.2024) — Phillips 66 said it will shut its large Los Angeles-area oil refinery late next year, delivering a blow to California’s fuel supply amid complaints about the state’s high prices. Phillips 66 CEO Mark Lashier cited “market dynamics” for the decision. The Los Angeles facility provides lower profits than other company oil processing plants, a […]
Phillips 66 to Cease Operating LA Refinery in 4Q:25
(Energy Analytics Institute, 16.Oct.2024) — Phillips 66 will cease operations at its Los Angeles-area refinery in the fourth quarter of 2025. Phillips plans to work with authorities from the state of California to supply fuel markets and meet ongoing consumer demand. Approximately 600 employees and 300 contractors currently operate the […]
Phillips 66 to Divest Interest in Switzerland-based JV for $1.24bn
(Energy Analytics Institute, 14.Oct.2024) — Phillips 66‘s subsidiary, Phillips 66 Limited, entered into a definitive agreement to sell its 49% non-operated equity interest in Coop Mineraloel AG (CMA) to its Swiss joint venture partner. In the deal, it will receive cash of 1.06bn Swiss francs (approximately $1.24bn) consisting of a […]
Phillips 66 Reports 1Q24 Results, Highlights Strategic Priorities
(Phillips 66, 26.Apr.2024) — Phillips 66 (NYSE: PSX) announced first-quarter earnings of $748mn, compared with earnings of $1.3bn in the fourth quarter. Excluding special items of $74mn, the company had adjusted earnings of $822mn in the first quarter, compared with fourth-quarter adjusted earnings of $1.4bn. “In the first quarter, we […]
Phillips 66 Increases Quarterly Dividend
(Phillips 66, 3.Apr.2024) — The board of directors of Phillips 66 (NYSE: PSX) declared a quarterly dividend of $1.15 per share on Phillips 66 common stock, representing a 10% increase. The dividend is payable on 3 Jun. 2024, to shareholders of record as of the close of business on 20 […]
Phillips 66 Achieves Major Milestone in Production of Renewable Diesel
(Phillips 66, 1.Apr.2024) — Phillips 66 (NYSE: PSX) announced a major milestone in its conversion of the San Francisco refinery into the Rodeo Renewable Energy Complex, expanding commercial scale production of renewable diesel. The Rodeo Renewed project has progressed, with the facility now processing only renewable feedstocks and producing approximately […]
Phillips 66 Completes Acquisition of DCP Midstream Units
(Phillips 66, 15.Jun.2023) — Phillips 66 (NYSE: PSX) and DCP Midstream, LP (NYSE: DCP) completed the previously announced acquisition by Phillips 66 of all the publicly held common units representing limited partner interests in DCP Midstream for $41.75 per common unit in cash at a total value of approximately $3.8bn, increasing […]
Citgo Names John Zuklic As Chief Financial Officer
(Citgo, 29.Oct.2020) — The Board of Directors of Citgo Petroleum Corporation appointed John Zuklic as Vice President Finance and Chief Financial Officer (CFO), reporting to Citgo President and CEO Carlos Jordá, effective 4 Nov. 2020. Zuklic was selected after a thorough, competitive search process that evaluated a number of highly […]
EP PetroEcuador Awards First Spot Sale Of 2020
(Energy Analytics Institute, Piero Stewart, 19.Feb.2020) — Ecuador’s state oil entity EP Petroecuador awarded its first spot market sale of 2020 to refining company Phillips 66 Company. The deal is for approximately 1,080,000 barrels of 24-degree API crude oil, EP PetroEcuador announced 19 February 2020 in an official statement. EP […]
President-elect Lopez Obrador Slams Pemex For Crude Import Plan
(Reuters, 23.Oct.2018) — Mexico’s president-elect Andres Manuel Lopez Obrador on Tuesday criticized state-run Pemex’s plan to import U.S. light crude from refiner Phillips 66, calling it a sign of the country’s failed economic policies. Pemex is set to begin crude imports in November, for the first time in over a […]
Phillips 66 Wins Tender To Sell U.S. Bakken Crude To Pemex -Traders
(Reuters, 22.Oct.2018) — Refining firm Phillips 66 was awarded a tender to supply Mexico’s Pemex with at least four 350,000-barrel cargoes of U.S. Bakken crude for delivery from November through December, traders with knowledge of the offer’s results said on Monday. The purchase will mark the state-run company’s first crude […]
Analysts: Only a Matter of Time Before Venezuela Loses Citgo
(Houston Chronicle, Jordan Blum, 10.Aug.2018) – Financially crippled Venezuela likely will lose control of its Houston refining arm Citgo Petroleum once a slew of lawsuits eventually are resolved, and it’s just a matter of when and to whom, finance and energy analysts said Friday. A federal judge ruled late Thursday […]
Glencore Lands PetroEcuador ‘Spot’ Deal
(Energy Analytics Institute, Ian Silverman, 14.Jul.2018) – Glencore Ltd won a recent EP PetroEcuador spot auction, which guarantees the Ecuadorian entity income of $279.3 million. The Swiss company offered the best bid price with a positive differential of $ 1.08 per barrel, reported the daily newspaper El Universo. EP Petroecuador […]
Venezuela Won’t Have Enough Oil To Export By 2019
(OilPrice.com, Robert Rapier, 12.Jun.2018) – On May 21st President Donald Trump signed a new executive order prohibiting certain oil-related transactions with Venezuela. GlobalData, a leading data and analytics company, argues that the new sanctions are symbolic in comparison to the more targeted sanctions previously considered that would limit exports of […]