PSX News and Press, Phillips 66 From 08/30/22

The following slide deck was published by Phillips 66 in conjunction with their 2022 Q2 earnings call. For further details see: Phillips 66 2022 Q2 - Results - Earnings Call Presentation

Comments from the Fed and geopolitical tensions are just two catalysts that have roiled the markets recently, leaving investors to find a lot of red in their portfolios. All's not lost, though. Fortifying your holdings with reliable dividend stocks can provide streams of passive income to s...

OPEC+ produced around three million barrels of crude oil per day less than planned in its June quotas due to underinvestment in recent years and sanctions on some members. Phillips 66 and H2 Energy Europe closed on a joint venture, JET H2 Energy Austria (JET H2 Energy), to create a Eu...

Last week, Phillips 66 made a big move to increase its economic interest in DCP Midstream. First, PSX announced it increased its stake in DCP from 28.26% to 43.31% by buying some of Enbridge's stake in what used to be a 50/50 joint venture. The next move PSX made was to announce a...

Oil pipeline giant Enbridge (NYSE: ENB) and refining and midstream company Phillips 66 (NYSE: PSX) each have a long history of paying attractive dividends to investors. Enbridge has increased its dividend for 27 straight years, making it Dividend Aristocr...

Oil refiners saw immense profits in Q2 as a confluence of factors caused gasoline and diesel crack spreads to surge. Gasoline crack spreads have normalized while diesel's spread remains high as commercial oil inventories have improved along with refinery output. This fall, crude o...

Energy Aspects founder Amrita Sen said Thursday that oil prices will likely jump back above $100 a barrel in the near-term, as the low-demand summer season passes. However, she identified Iran as a possible wildcard, with increased supply from that country potentially delivering downward pr...

Enbridge ( NYSE: ENB ) said on Wednesday it completed a joint venture merger deal with Phillips 66 ( PSX ) resulting in a single JV holding both companies' indirect ownership interests in Gray Oak Pipeline and DCP Midstream ( DCP ). Through the surviving JV, Enbr...

Phillips 66 ( NYSE: PSX ) said on Wednesday it submitted a proposal to acquire all common units of DCP Midstream ( NYSE: DCP ) it does not already own for $34.75/unit. Phillips 66 ( PSX ) said the transaction would be structured as a merger of DCP Midstream (...

Concurrent with Phillips 66’s (NYSE: PSX) announcement of the realignment of economic and governance interests in DCP Midstream, LP (DCP Midstream), Phillips 66 also announced today it has submitted a non-binding proposal to the board of directors of the general partner of DCP Mi...