Phillips 66 Profit More Than Triples Year on Year
Phillips 66 reported $1.961 billion in net income for the first quarter.
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Phillips 66 reported $1.961 billion in net income for the first quarter.
Phillips 66 reported higher-than-expected earnings for the first quarter due to solid demand and lower crude oil feedstock.
U.S. refiner Phillips 66 beat Wall Street estimate for first-quarter profit on Wednesday, joining rivals in gaining from elevated margins on sustained fuel demand amid tight crude supplies.
PSX earnings call for the period ending March 31, 2023.
QatarEnergy and Chevron Phillips Chemical Company (CPChem) have broken ground on a $8.5 billion petrochemical facility in Texas, US. It will boast an ethylene cracker unit with 2 million tonne per annum capacity, thus making it the largest in the world.