PSX News and Press, Phillips 66 From 03/11/22

OVERLAND PARK, KS / ACCESSWIRE / March 11, 2022 / TortoiseEcofin today announced upcoming additions and deletions to its indices as part of its regular quarterly rebalancing for the first quarter of 2022. Following the close of trading on March 18, 2022, the indices will be rebalanced and as...

Phillips 66 Partners' fee-based business model helps them generate consistent revenue in an industry prone to price fluctuations. A merger with their parent company may lead to a significant downturn in their dividend payment. Long-term, Phillips 66 is very forward-thinking, makin...

Energy stocks (XLE -3.1%) comprise Wednesday's five biggest losers on the S&P 500, as crude futures plunged by the most since November after the United Arab Emirates and Iraq signaled OPEC may have greater willingness to raise production, as well as hopes for a de-escalation of the Russia...

In a direct address to the oil & gas industry Tuesday, President Biden said, "to the oil and gas companies ... it's no time for profiteering or price gouging." Hours later, Senator Warren made an appearance on MSNBC saying, "I'm co-sponsoring a bill on windfall profits tax. We get it...

According to Reuters sources, the US administration has offered to ease sanctions on Venezuela in return for directing a portion of oil exports to the United States (NYSEARCA:USO). The report follows a US import ban on Russian oil, which is likely to impact heavy-oil balances for refiners in ...

Traders are betting Brent prices will cross $200 while U.S. energy import ban on Russia will likely find no other major nation joining suit. U.S. extraction and refining capacity seem to have a shortfall relative to domestic consumption. Analysis for a choice between clean energy ...

Phillips 66 (NYSE: PSX) announced today the completion of the previously announced merger between Phillips 66 Partners (PSXP) and Phillips 66. The merger resulted in Phillips 66 acquiring all limited partnership interests in PSXP not already owned by Phillips 66 and its affiliates. Part...

Marathon Petroleum reported a better-than-expected adjusted income of $794 million, or $1.30 per share, for the fourth quarter. Revenues were up significantly from $18.19 billion to $35.61 billion. The company repurchased shares worth $2.742 billion during the October-December period....

LEAWOOD, KS / ACCESSWIRE / March 8, 2022 / TortoiseEcofin today announced that Phillips 66 Partners LP (NYSE:PSXP) will be removed from the Tortoise MLP Index ® (TMLP), and the Tortoise North American Pipeline Index SM (TNAP), as a result of the approved merger with Phillips 66 (NYS...

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...