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PSXP - Phillipps 66 Partners: This Growth MLP Is One To Avoid
Phillips 66 Partners LP representing limited partner interest in the Partnership
I got interested in MLPs as I continue to look for yield and income opportunities. Phillips 66 Partners (PSXP) is an interesting case as it bills itself as a “growth oriented MLP” in its 10-K. Like most midstream MLPs, PSXP transports crude oil, refined petroleum products, and NGL through its pipelines, and is engaged in terminaling and storing crude oil, refined petroleum products, and NGL at its storage facilities. PSXP is a subsidiary of Phillips 66 (PSX) and is largely integrated to the wider PSX portfolio.