Phillips 66 Reports Second-Quarter Earnings of $1.0 Billion or $1.84 Per Share | Diskussion im Forum
eröffnet am 17.09.15 13:06:55 von
neuester Beitrag 31.01.23 17:23:29 von
neuester Beitrag 31.01.23 17:23:29 von
ISIN: US7185461040 · WKN: A1JWQU · Symbol: PSX
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31.1.
Phillips 66 Reports Fourth-Quarter 2022 Financial Results
https://www.wallstreet-online.de/nachricht/16497628-phillips…
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Phillips 66 (NYSE: PSX), a diversified energy company, announces fourth-quarter 2022 earnings of $1.9 billion, compared with earnings of $5.4 billion in the third quarter of 2022.
Excluding special items of $15 million, the company had adjusted earnings of $1.9 billion in the fourth quarter, compared with third-quarter adjusted earnings of $3.1 billion.
“Our integrated portfolio positioned us to generate robust earnings and cash flow in 2022, supported by a favorable market environment, solid operations and strong safety performance,” said Mark Lashier, President and CEO of Phillips 66. “During 2022 we increased shareholder distributions and strengthened our balance sheet by repaying debt. Since July 2022, we have returned $2.4 billion to shareholders through share repurchases and dividends as we progress toward our commitment to return $10 billion to $12 billion by year-end 2024.
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We are on track to deliver $1 billion of annualized savings by year-end 2023. In addition, we continue to grow our NGL business with the integration of DCP Midstream and recently reached an agreement to acquire all public common units. We remain committed to operating excellence and disciplined capital allocation as we execute our strategic priorities.”
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31.1.
Phillips 66 Reports Fourth-Quarter 2022 Financial Results
https://www.wallstreet-online.de/nachricht/16497628-phillips…
...
Phillips 66 (NYSE: PSX), a diversified energy company, announces fourth-quarter 2022 earnings of $1.9 billion, compared with earnings of $5.4 billion in the third quarter of 2022.
Excluding special items of $15 million, the company had adjusted earnings of $1.9 billion in the fourth quarter, compared with third-quarter adjusted earnings of $3.1 billion.
“Our integrated portfolio positioned us to generate robust earnings and cash flow in 2022, supported by a favorable market environment, solid operations and strong safety performance,” said Mark Lashier, President and CEO of Phillips 66. “During 2022 we increased shareholder distributions and strengthened our balance sheet by repaying debt. Since July 2022, we have returned $2.4 billion to shareholders through share repurchases and dividends as we progress toward our commitment to return $10 billion to $12 billion by year-end 2024.
...
We are on track to deliver $1 billion of annualized savings by year-end 2023. In addition, we continue to grow our NGL business with the integration of DCP Midstream and recently reached an agreement to acquire all public common units. We remain committed to operating excellence and disciplined capital allocation as we execute our strategic priorities.”
...
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15.1.
Chevron expands Venezuelan crude sales to other oil refiners
https://www.ajot.com/news/chevron-expands-venezuelan-crude-s…
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Chevron Corp. sold a cargo of Venezuelan oil to another US refiner in the first such transaction since sanctions against the Latin American nation were eased less than two months ago.
Phillips 66 bought half-a-million barrels of a type of sludgy oil known as Hamaca from Chevron, according to a person with knowledge of the situation who asked not to be identified. The crude will be processed at the refiner’s Sweeny, Texas, complex about 65 miles (105 kilometers) south of Houston, the person said.
Chevron is expanding Venezuelan crude sales beyond its own refining network just weeks after US sanctions relief allowed the oil giant to return key managers to the country and resume drilling. The transactions appear to advance President Joe Biden’s dual objectives of re-engagement with the Nicolas Maduro regime and increasing crude supplies available to American fuel makers.
The cargo of Hamaca will be loaded onto the tanker Carina Voyager in Venezuela this month, according to another person who requested anonymity while discussing non-public information. Phillips 66 was one of the largest buyers of Venezuelan oil prior to the imposition of sanctions about four years ago.
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Chevron expands Venezuelan crude sales to other oil refiners
https://www.ajot.com/news/chevron-expands-venezuelan-crude-s…
...
Chevron Corp. sold a cargo of Venezuelan oil to another US refiner in the first such transaction since sanctions against the Latin American nation were eased less than two months ago.
Phillips 66 bought half-a-million barrels of a type of sludgy oil known as Hamaca from Chevron, according to a person with knowledge of the situation who asked not to be identified. The crude will be processed at the refiner’s Sweeny, Texas, complex about 65 miles (105 kilometers) south of Houston, the person said.
Chevron is expanding Venezuelan crude sales beyond its own refining network just weeks after US sanctions relief allowed the oil giant to return key managers to the country and resume drilling. The transactions appear to advance President Joe Biden’s dual objectives of re-engagement with the Nicolas Maduro regime and increasing crude supplies available to American fuel makers.
The cargo of Hamaca will be loaded onto the tanker Carina Voyager in Venezuela this month, according to another person who requested anonymity while discussing non-public information. Phillips 66 was one of the largest buyers of Venezuelan oil prior to the imposition of sanctions about four years ago.
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Antwort auf Beitrag Nr.: 72.222.093 von faultcode am 18.08.22 14:16:446.1.
Phillips 66 Reaches Agreement to Acquire Publicly Held Common Units of DCP Midstream, LP
https://www.wallstreet-online.de/nachricht/16403252-phillips…
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Phillips 66 (NYSE: PSX) and DCP Midstream, LP (“DCP Midstream”) (NYSE: DCP) announced today that they have entered into a definitive agreement pursuant to which Phillips 66 will acquire all of the publicly held common units representing limited partner interests in DCP Midstream for cash consideration of $41.75 per common unit, increasing its economic interest in DCP Midstream to 86.8%.
“We are delivering on our commitment to grow our NGL business,” said Mark Lashier, President and CEO of Phillips 66. “Our wellhead-to-market platform captures the full NGL value chain. As we continue integrating DCP Midstream, we are unlocking significant synergies and growth opportunities.”
In combination with the previously announced realignment of Phillips 66’s economic and governance interests in DCP Midstream, the transaction is expected to generate an incremental $1 billion of adjusted EBITDA for Phillips 66. In addition, Phillips 66 expects to capture operational and commercial synergies of at least $300 million by integrating DCP Midstream into its existing midstream business.
Phillips 66 plans to fund the approximately $3.8 billion cash consideration through a combination of cash and debt while maintaining its current investment grade credit ratings. The transaction is expected to close in the second quarter of 2023, subject to customary closing conditions.
The transaction was unanimously approved by the board of directors of DCP Midstream GP, LLC, the general partner of DCP Midstream GP, LP, the general partner of DCP Midstream, based on the unanimous approval and recommendation of a special committee comprised entirely of independent directors after evaluation of the transaction by the special committee in consultation with independent financial and legal advisors.
Affiliates of Phillips 66, as the holders of a majority of the outstanding DCP Midstream common units, have delivered their consent to approve the transaction. As a result, DCP Midstream has not solicited and is not soliciting approval of the transaction by any other holders of DCP Midstream common units.
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Phillips 66 Reaches Agreement to Acquire Publicly Held Common Units of DCP Midstream, LP
https://www.wallstreet-online.de/nachricht/16403252-phillips…
...
Phillips 66 (NYSE: PSX) and DCP Midstream, LP (“DCP Midstream”) (NYSE: DCP) announced today that they have entered into a definitive agreement pursuant to which Phillips 66 will acquire all of the publicly held common units representing limited partner interests in DCP Midstream for cash consideration of $41.75 per common unit, increasing its economic interest in DCP Midstream to 86.8%.
“We are delivering on our commitment to grow our NGL business,” said Mark Lashier, President and CEO of Phillips 66. “Our wellhead-to-market platform captures the full NGL value chain. As we continue integrating DCP Midstream, we are unlocking significant synergies and growth opportunities.”
In combination with the previously announced realignment of Phillips 66’s economic and governance interests in DCP Midstream, the transaction is expected to generate an incremental $1 billion of adjusted EBITDA for Phillips 66. In addition, Phillips 66 expects to capture operational and commercial synergies of at least $300 million by integrating DCP Midstream into its existing midstream business.
Phillips 66 plans to fund the approximately $3.8 billion cash consideration through a combination of cash and debt while maintaining its current investment grade credit ratings. The transaction is expected to close in the second quarter of 2023, subject to customary closing conditions.
The transaction was unanimously approved by the board of directors of DCP Midstream GP, LLC, the general partner of DCP Midstream GP, LP, the general partner of DCP Midstream, based on the unanimous approval and recommendation of a special committee comprised entirely of independent directors after evaluation of the transaction by the special committee in consultation with independent financial and legal advisors.
Affiliates of Phillips 66, as the holders of a majority of the outstanding DCP Midstream common units, have delivered their consent to approve the transaction. As a result, DCP Midstream has not solicited and is not soliciting approval of the transaction by any other holders of DCP Midstream common units.
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9.11.
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The company’s Board of Directors approved a $5 billion increase to its authorization to repurchase its common stock, which brings the total amount of share repurchases authorized by the Board since 2012 to an aggregate of $20 billion.
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Phillips 66 Outlines Plans to Increase Shareholder Distributions
https://www.wallstreet-online.de/nachricht/16177334-phillips…
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The company’s Board of Directors approved a $5 billion increase to its authorization to repurchase its common stock, which brings the total amount of share repurchases authorized by the Board since 2012 to an aggregate of $20 billion.
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Phillips 66 Outlines Plans to Increase Shareholder Distributions
https://www.wallstreet-online.de/nachricht/16177334-phillips…
Trading Spotlight
18.8.
Phillips 66, Enbridge Swap Stakes in US Pipes Through JV Merger
https://finance.yahoo.com/news/phillips-66-enbridge-swap-sta…
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Phillips 66 increased its ownership of DCP Midstream LP to 43.3% from 28.3% while slashing its stake in Gray Oak Pipeline LLC to 6.5% from 42.3%, the crude refiner said in a statement. The company will pay Enbridge $400 million in cash as part of the transaction.
Enbridge’s share of Gray Oak will increase to 58.5% from 22.8% while its stake in DCP will fall to 13.2% from 28.3%, the Calgary-based company said. Enbridge has also agreed to operate the pipeline, currently managed by Phillips 66, starting in the second quarter of 2023.
In a separate announcement, Phillips 66 said it has made a non-binding offer to buy all publicly held common units of DCP Midstream for $34.75 each. The shares fell 3.5% Wednesday to $34.75, paring this year’s gain to 26%.
With the reshuffle, Phillips 66 aims to further expand into natural gas liquids, a key feedstock used by refineries and petrochemical plants. Meanwhile, the deal allows Enbridge to focus on moving crude oil from the Permian basin to the Gulf Coast.
Currently, Phillips 66 and Enbridge share ownership in DCP and Gray Oak through two separate joint ventures, which will now be merged into a single entity. The transaction was entered into and closed on Wednesday.
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Phillips 66, Enbridge Swap Stakes in US Pipes Through JV Merger
https://finance.yahoo.com/news/phillips-66-enbridge-swap-sta…
...
Phillips 66 increased its ownership of DCP Midstream LP to 43.3% from 28.3% while slashing its stake in Gray Oak Pipeline LLC to 6.5% from 42.3%, the crude refiner said in a statement. The company will pay Enbridge $400 million in cash as part of the transaction.
Enbridge’s share of Gray Oak will increase to 58.5% from 22.8% while its stake in DCP will fall to 13.2% from 28.3%, the Calgary-based company said. Enbridge has also agreed to operate the pipeline, currently managed by Phillips 66, starting in the second quarter of 2023.
In a separate announcement, Phillips 66 said it has made a non-binding offer to buy all publicly held common units of DCP Midstream for $34.75 each. The shares fell 3.5% Wednesday to $34.75, paring this year’s gain to 26%.
With the reshuffle, Phillips 66 aims to further expand into natural gas liquids, a key feedstock used by refineries and petrochemical plants. Meanwhile, the deal allows Enbridge to focus on moving crude oil from the Permian basin to the Gulf Coast.
Currently, Phillips 66 and Enbridge share ownership in DCP and Gray Oak through two separate joint ventures, which will now be merged into a single entity. The transaction was entered into and closed on Wednesday.
...
29.7.
Phillips 66 Reports Second-Quarter 2022 Financial Results
https://www.wallstreet-online.de/nachricht/15756284-phillips…
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Phillips 66 (NYSE: PSX), a diversified energy company, announces second-quarter 2022 earnings of $3.2 billion, compared with earnings of $582 million in the first quarter of 2022. Excluding special items of $118 million, the company had adjusted earnings of $3.3 billion in the second quarter, compared with first-quarter adjusted earnings of $595 million.
“Our earnings reflect the strong market environment during the second quarter driven by a tight global product supply and demand balance,” said Mark Lashier, President and CEO of Phillips 66. “We are focused on reliably providing critical energy products, including transportation fuels, to meet peak summer demand. We also advanced strategic capital projects to help meet the growing demand for renewable fuels and NGLs.
“During the second quarter, we paid down $1.5 billion of debt, increased our dividend and resumed share repurchases. Additionally, we are transforming our business to achieve sustained annual cost savings of at least $700 million to ensure we remain competitive in any market environment. We will continue to prioritize operating excellence and disciplined capital allocation.”
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Strategic Update
Phillips 66 is continuing its business transformation that will enable sustainable cost reductions of at least $700 million annually across the enterprise. Phillips 66 will provide a business transformation and strategy update at its investor day in New York City on November 9.
...
At the Sweeny Hub, Frac 4 startup is expected late in the third quarter of 2022, adding 150,000 BPD of capacity. The total project cost is expected to be approximately $525 million. Upon completion, total Sweeny Hub fractionation capacity will be 550,000 BPD. The fractionators are supported by long-term commitments.
....
Phillips 66 Reports Second-Quarter 2022 Financial Results
https://www.wallstreet-online.de/nachricht/15756284-phillips…
...
Phillips 66 (NYSE: PSX), a diversified energy company, announces second-quarter 2022 earnings of $3.2 billion, compared with earnings of $582 million in the first quarter of 2022. Excluding special items of $118 million, the company had adjusted earnings of $3.3 billion in the second quarter, compared with first-quarter adjusted earnings of $595 million.
“Our earnings reflect the strong market environment during the second quarter driven by a tight global product supply and demand balance,” said Mark Lashier, President and CEO of Phillips 66. “We are focused on reliably providing critical energy products, including transportation fuels, to meet peak summer demand. We also advanced strategic capital projects to help meet the growing demand for renewable fuels and NGLs.
“During the second quarter, we paid down $1.5 billion of debt, increased our dividend and resumed share repurchases. Additionally, we are transforming our business to achieve sustained annual cost savings of at least $700 million to ensure we remain competitive in any market environment. We will continue to prioritize operating excellence and disciplined capital allocation.”
...
Strategic Update
Phillips 66 is continuing its business transformation that will enable sustainable cost reductions of at least $700 million annually across the enterprise. Phillips 66 will provide a business transformation and strategy update at its investor day in New York City on November 9.
...
At the Sweeny Hub, Frac 4 startup is expected late in the third quarter of 2022, adding 150,000 BPD of capacity. The total project cost is expected to be approximately $525 million. Upon completion, total Sweeny Hub fractionation capacity will be 550,000 BPD. The fractionators are supported by long-term commitments.
....
Echt eine Aktie welche derzeit gegen den Trend gut läuft...
Das Unternehmen stand schon vor der Krise Fundamental gut da und ixh denke, ohne hier Insider zu sein, das es von der neuen geopolitischen Lage sogar noch profitieren dürfte.
Erdgas fördern die ja auch wie ich gelesen habe. Aber was ich besonders Zukunftsträchtig finde, sind die Investitionen in green Energy wie eben die in sustainable Fuel oder auch der Einstieg bei Novonix.
Was denkt ihr?
Das Unternehmen stand schon vor der Krise Fundamental gut da und ixh denke, ohne hier Insider zu sein, das es von der neuen geopolitischen Lage sogar noch profitieren dürfte.
Erdgas fördern die ja auch wie ich gelesen habe. Aber was ich besonders Zukunftsträchtig finde, sind die Investitionen in green Energy wie eben die in sustainable Fuel oder auch der Einstieg bei Novonix.
Was denkt ihr?
Antwort auf Beitrag Nr.: 70.145.765 von faultcode am 07.12.21 13:52:1611.5.
Phillips 66 makes final investment decision to convert San Francisco Refinery to a renewable fuels facility
https://www.phillips66.com/newsroom/220511-rodeo_final_inves…
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Phillips 66 made a final investment decision Wednesday to move forward with Rodeo Renewed, the project to convert its San Francisco Refinery in Rodeo, California, into one of the world’s largest renewable fuels facilities. The project, which recently received approval from Contra Costa County, is expected to cost approximately $850 million and begin commercial operations in the first quarter of 2024.
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Upon completion of Rodeo Renewed, the converted facility will no longer process crude oil and instead use waste oils, fats, greases and vegetable oils to produce an initial 800 million gallons per year (over 50,000 barrels per day) of renewable transportation fuels, including renewable diesel, renewable gasoline and sustainable aviation fuel. Production of these fuels is projected to reduce lifecycle carbon emissions by approximately 65% — the equivalent of taking 1.4 million cars off California roads each year. Rodeo Renewed is also expected to cut criteria pollutant emissions at the site by 55% and water use by 160 million gallons per year.
The scope of the project includes the construction of pre-treatment units and the repurposing of existing hydrocracking units to enable production of renewable fuels. The converted facility will leverage its flexible logistics infrastructure to secure renewable feedstocks from local, domestic and international sources and supply renewable fuels to California and other markets.
...
Phillips 66 makes final investment decision to convert San Francisco Refinery to a renewable fuels facility
https://www.phillips66.com/newsroom/220511-rodeo_final_inves…
...
Phillips 66 made a final investment decision Wednesday to move forward with Rodeo Renewed, the project to convert its San Francisco Refinery in Rodeo, California, into one of the world’s largest renewable fuels facilities. The project, which recently received approval from Contra Costa County, is expected to cost approximately $850 million and begin commercial operations in the first quarter of 2024.
...
Upon completion of Rodeo Renewed, the converted facility will no longer process crude oil and instead use waste oils, fats, greases and vegetable oils to produce an initial 800 million gallons per year (over 50,000 barrels per day) of renewable transportation fuels, including renewable diesel, renewable gasoline and sustainable aviation fuel. Production of these fuels is projected to reduce lifecycle carbon emissions by approximately 65% — the equivalent of taking 1.4 million cars off California roads each year. Rodeo Renewed is also expected to cut criteria pollutant emissions at the site by 55% and water use by 160 million gallons per year.
The scope of the project includes the construction of pre-treatment units and the repurposing of existing hydrocracking units to enable production of renewable fuels. The converted facility will leverage its flexible logistics infrastructure to secure renewable feedstocks from local, domestic and international sources and supply renewable fuels to California and other markets.
...
29.3.
U.S. Exports More Diesel as Global Shortage Fuels Competition
https://finance.yahoo.com/news/u-exports-more-diesel-global-…
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