Phillips 66 buys remaining stake in major US refineries from Cenovus for $1.4 billion

By Vallari Srivastava (Reuters) - Phillips 66 said on Tuesday it will acquire the remaining 50% stake in WRB Refining from Cenovus Energy for $1.4 billion, giving it full ownership of two major U.S. refineries. Shares of the U.S. refiner were up 2.7% while Cenovus was up 3.3% WRB includes the Wood River refinery in Illinois and the Borger refinery in Texas, which have a combined crude throughput capacity of 495,000 barrels per day (bpd). The refineries — which add about 250,000 bpd to Phillips 66’s ref ...