PSX News and Press, Phillips 66 From 03/08/22

Late Monday, Alberta Premier Jason Kenney referred to the 900kb/d Keystone XL pipeline when he said, "during a disaster like this, national security and the interest of the economy must prevail." The oil pipeline connecting Alberta to Steele City, Nebraska was canceled under Obama, only to be...

The White House is set to ban US imports of Russian oil, liquified natural gas and coal as soon as Tuesday, according to Bloomberg sources. The move is likely to come without participation from European allies, though the decision was made in consultation with partners in Europe. The US consu...

The Ukraine and Russian situation creates substantial uncertainties in the global energy market. Investors will need to know its different impacts on different energy segments and stocks to navigate the investing landscape. Integrated players with an emphasis on production, such a...

Phillips 66’s diversified business segments, complex refineries, and investments in decarbonization will fuel steady cash flow generation going forward. The company’s refinery segment saw improved volumes and an increase in realized margins, from $8.57 per barrel in 4Q20...

Self sanctioning reported by Energy Intelligence Thursday indicated that oil product exports from Russia had fallen by ~1mb/d (product plus crude exports fell ~2.5mb/d); oil prices rose, but oil product margins in Europe are spiking as well.  European oil refiners have struggled since th...

Following significantly tighter financial sanctions announced over the weekend, and an exodus of majors from Russia, crude traders and refiners have paused purchases of Russian oil and oil products. This is according to an assessment of shipping data and conversations with traders shared by&#...

Phillips 66 has been through a lot because of the pandemic. Now, its business is coming back roaring, providing a way for strong dividend hikes and buybacks. The company has a healthy balance sheet and invested a lot in growth projects, paving the way for strong free cash flow going f...

Energy commodities rallied Tuesday, as war in Ukraine showed no sign of slowing. With utilities, refineries and traders scrambling to secure supplies, oil prices traded up ~10%, thermal coal prices rose ~15%, and European natural gas prices spiked ~20%. Following nearly a decade of reduced fo...

Sunday, Goldman raised their one-month Brent oil price forecast to $115, and Tuesday Morgan Stanley lifted their Q2 Brent forecast to $110 from $100, citing a geopolitical risk premium (NYSEARCA:USO) (NYSEARCA:XLE). Both banks highlight that war in Ukraine has yet to impact physical supplies,...

Company’s newest target would reduce Scope 1 and 2 manufacturing-related emissions intensity 50% by 2050 Phillips 66 (NYSE: PSX) announced today that it intends to reduce the greenhouse gas emissions intensity from its operations companywide 50% by 2050. The new targe...