PSX News and Press, Phillips 66 From 06/09/22

In April, despite increased refining runs and reduced domestic demand, China saw oil product exports collapse year on year. May trade data, published Thursday, showed a continued reduction in exports, down 40% year on year and ~15% month on month:  Although reduced exports are sure to im...

The stock of Phillips 66 has been left in the dust by its larger refining peers Valero and Marathon. Yet the lack of global refining capacity is just as much a positive catalyst for PSX, and PSX's two refineries in Europe are ideally positioned. Given the current macro environment...

There's a lack of adequate refining capacity because of refinery closures due to COVID-19, natural disasters, and the economic reality of the last few years. As a result, refiners are now in an excellent position to profit from crack spreads that have blown out - especially for diesel...

Europe has announced measures to phase out Russian oil (USO) imports in 2022; however, the impact on global supply and demand could be limited, as seaborne exports re-route to other markets. Importantly, Europe also plans to ban distillate imports (heating oil, diesel, jet fuel); a much more ...

Amid a global refining crunch, Kuwait has begun production at the first of three units in its newly built 615kb/d Al-Zour refinery; the complex is expected to fully ramp by year end. The complex is one of two major refineries to ramp this year, with Saudi's Jazan refinery just beginning to ex...

Market timing can be a very attractive and tempting strategy in theory, particularly in challenging markets like today but can be difficult to achieve in real-time. “Factor momentum” is using the recent price action of a given factor (value, growth, quality, etc.) to pre...

May was another record month, with projected income up to $15,138 for 2022. More bargains were available in the market, so much more cash was deployed than in April. Surprise dividend increases from Simon Property Group and Phillips 66 helped boost income to record levels. F...

Monthly update of the Dividend Champions List. 61 companies declared higher dividends in the past month, with an average increase of 8.54% over their previous payouts. One new Champion, three new Contenders, and two new Challengers. For further details see: Dividend Cham...

Bank of America's Doug Leggate published a bullish note on PBF (NYSE:PBF) Thursday, suggesting the company is the "poster child" for a new "Golden Age" in US refining. Leggate has been bullish refiners for much of the year, so Thursday's note comes as no surprise; however, a detail in the not...

DCP Midstream has gone from a company once at risk of bankruptcy to having one of the strongest midstream asset positions. The company has a strong dividend yield of more than 4%, which it has guided towards increasing in the 2nd half of the year. The company can continue to rapid...