Company Report
Phillips 66 refining and oil products summary
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*Please note that this report only includes an Excel data file if this is indicated in "What's included" below
Report summary
Phillips 66, is the dedicated global downstream player spun out of ConocoPhillips in 2012. The rationale for the move to effectively create two separate companies for the upstream and downstream businesses is that both would benefit from pursuing their own strategic objectives as independent concerns rather than as an integrated whole. The company emphasises portfolio optimisation and margin improvement as its key levers, hence there is a shift in balance of the portfolio progressively away from Refining and Marketing towards the more profitable Midstream and Chemicals segments, while within each business segment there will be more ‘high grading' of assets. Within 'Refining', that means continued divestment of lower performing and non-core assets such the Whitegate refinery in Ireland, which was sold in 2016.
Table of contents
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Executive summary
- SWOT analysis
- A downstream and midstream player spun off from ConocoPhillips
- Global strategy is to rebalance the business away from R&M and take full advantage of US tight oil...
- ...while Midstream is the key investment focus for growth
- Within Europe, R&M activities are focused on UK/Ireland and Germany/Austria
- Financials
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Portfolio summary
- European refining and marketing operations
- Refining
- Marketing
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Refining and oil products
- Supply/demand
- Implications and outlook
- Mergers and acquisitions
Tables and charts
This report includes the following images and tables:
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Adjusted net incomeCapital expendituresRecent European acquisition/divestment
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Mergers and acquisitions: Table 2Executive summary: Table 1Portfolio summary: Image 1Total company positionRefining and oil products: Table 1Supply area A - UK / Ireland
What's included
This report contains:
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