PSX - Phillips 66

Phillips 66 is a diversified energy manufacturing and logistics company that was created as a separate entity following the spin-off from ConocoPhillips in 2012. The company operates through four main segments: Midstream, Chemicals, Refining, and Marketing & Specialties. In the Midstream segment, Phillips 66 provides transportation, terminaling, and processing services for crude oil and refined petroleum products. The Chemicals segment mainly includes its investment in Chevron Phillips Chemical Company, producing petrochemicals and plastics worldwide. The Refining segment focuses on converting crude oil into various petroleum products, while the Marketing & Specialties segment involves the resale of these refined products and renewable fuels, along with manufacturing base oils and lubricants.

The business model of Phillips 66 revolves around leveraging its extensive pipeline infrastructure, refining capabilities, and market presence to efficiently move, process, and sell energy products. The company has 12 refineries located across the United States and Europe, alongside an expansive network of over 72,000 miles of pipelines. This positioning allows Phillips 66 to capture value at multiple points throughout the energy supply chain, ultimately supporting its growth strategy and commitments to producing renewable energy sources.