Phillips 66 is a diversified energy manufacturing and logistics company with a global presence, including in the United States, the United Kingdom, and Germany. It operates across four main areas: Midstream, Chemicals, Refining, and Marketing and Specialties. The company handles everything from transporting and refining crude oil to producing chemicals and marketing refined petroleum products. It also deals in natural gas liquids and various specialty chemical products, offering a wide range of services from storage to marketing. Founded in 1875, Phillips 66 is headquartered in Houston, Texas, showcasing a long history in the energy sector.
Worldwide realized refining margins jumped to $24.08 per barrel from $10.11 in Q1, lifting adjusted earnings to $3.79 billion. Revenue and EPS both topped consensus, the fourth straight quarter of beats. Refining utilization of 96% is the number to watch next.
Trump floated banning US diesel exports and refiners immediately started selling off, but the gap between a presidential preference and a signed policy is where billions in market-leading gains now hang.
Diesel margins just ran five times their normal range as Russian barrels vanished and Gulf throughput cratered, sending Phillips 66 on a historic run. But the question rattling analysts is whether the…
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