Core Insights - Phillips 66 is set to launch its Rodeo Renewed plant, a significant renewable diesel facility in Rodeo, CA, marking a transition from traditional oil refining to renewable fuel production [1][3] - The project has successfully passed a new environmental review, despite previous challenges related to environmental compliance [1][2] - Upon completion, the Rodeo Renewed plant will be the world's largest renewable fuel production facility, expected to reduce greenhouse gas emissions by 50% [3] Environmental Review and Approval - The recent environmental review acknowledged eight significant and unavoidable impacts on air quality, hazardous materials, and water quality, but confirmed that all feasible mitigation measures were implemented by Phillips 66 [2] - The Contra Costa County board of supervisors determined that the project's benefits, including contributions to renewable energy and lower-carbon solutions, outweigh the identified environmental impacts [2] Industry Trends and Company Strategy - The Rodeo Renewed project reflects broader industry trends towards renewable energy sources and growing environmental consciousness in fuel production [3] - Phillips 66's initiative is a response to regulatory pressures and market trends favoring renewable energy, highlighting the complexities of transitioning from fossil fuels to renewable sources [3]

Phillips 66 (PSX) has gained 24.2% in the past year, outpacing the industry’s 3.4% improvement. What's Favoring the Stock?PSX has a diversified business model, with a significant presence in businesses related to refining midstream, chemicals and marketing & specialties. In each of its operations, Phillips 66 has a solid footprint pertaining to safety, profitability, size and competitive strengths.It is focusing more on businesses like midstream, renewables and chemicals, which makes the business model more ...

Oil energy companies will start reporting fourth-quarter earnings this week. As the oil pricing scenario was favorable, better-than-expected earnings are anticipated from energy majors like Exxon Mobil Corporation (XOM) . Additionally, a stable midstream business may have supported Phillips 66 (PSX) .Oil Price ImpressiveThe pricing scenario of oil was remarkable in the fourth quarter of 2023. Per data provided by the U.S. Energy Information Administration, the average West Texas Intermediate spot crude pric ...

Mailson Pignata Phillips 66 (NYSE:PSX) has seen a solid run up in share price thanks to the activity spurred on by the activist investor Elliott Investment Management. In a letter to the board, Elliott implied that PSX's refining assets can be run more effectively to drive costs out of the business. Elliott directly sited the growing gap in operating costs per barrel between PSX and peers Marathon and Valero. The stock saw a 5% jump on the day of this announcement, adding to the 40% price appreciation s ...

Phillips 66 (PSX) , a prominent U.S. refiner and petrochemical manufacturer, is actively engaged in discussions regarding the sale of its non-core assets.The announcement came during an energy conference, wherein chief executive Mark Lashier highlighted the company’s plan to monetize $3 billion in non-core assets in 2024, as part of a strategy to enhance returns by cutting costs and divesting non-essential holdings.While the company has set a goal to monetize these assets this year, there is no fixed timeli ...

Phillips 66 (NYSE:PSX) Goldman Sachs Energy, CleanTech & Utilities Conference January 4, 2024 10:20 AM ET Company Participants Mark Lashier - President and Chief Executive Officer Jeff Dietert - Vice President of Investor Relations Kevin Mitchell - Chief Financial Officer Conference Call Participants Neil Mehta - Goldman Sachs Neil Mehta All right. We got a full room here for what is always a highlight of the Goldman Conference, a conversation with Phillips 66. This is really a diversified conversation. So, ...

Phillips 66 (NYSE:PSX) Goldman Sachs Energy, CleanTech & Utilities Conference January 4, 2024 10:20 AM ET Company Participants Mark Lashier - President and Chief Executive Officer Jeff Dietert - Vice President of Investor Relations Kevin Mitchell - Chief Financial Officer Conference Call Participants Neil Mehta - Goldman Sachs Neil Mehta All right. We got a full room here for what is always a highlight of the Goldman Conference, a conversation with Phillips 66. This is really a diversified conversation. So, ...

In the latest market close, Phillips 66 (PSX) reached $135.75, with a +1.09% movement compared to the previous day. This change outpaced the S&P 500's 0.8% loss on the day. At the same time, the Dow lost 0.76%, and the tech-heavy Nasdaq lost 1.18%.The oil refiner's shares have seen an increase of 5.16% over the last month, surpassing the Oils-Energy sector's gain of 0.83% and the S&P 500's gain of 3.4%.Analysts and investors alike will be keeping a close eye on the performance of Phillips 66 in its upcoming ...

Mario Tama Phillips 66 (NYSE:PSX) is an American multinational energy company headquartered in Houston. The company is one of the largest publicly traded refining companies, with a market cap just under $60 billion. As we'll see throughout this article, the company's impressive and complex assets will drive long-term shareholder returns. Phillips 66 Shareholder Commitments Phillips 66 is working to continue improving the reliability of its business with its commitments to shareholders. Phillips 66 Investor ...

Phillips 66 (NYSE:PSX) Bank of America Energy Conference Conference Call November 14, 2023 4:00 PM ET Company Participants Timothy Roberts - EVP, Midstream & Chemicals Jeffrey Dietert - VP, IR Richard Harbison - EVP, Refining Conference Call Participants Doug Leggate - Bank of America Merrill Lynch Kalei Akamine - Bank of America Merrill Lynch Doug Leggate Thanks very much indeed for being here this afternoon. So we're going to turn our agenda back to Refining again, our first corporate fireside chat with - ...