Welcome to our dedicated page for Phillips 66 news (Ticker: PSX), a resource for investors and traders seeking the latest updates and insights on Phillips 66 stock.
Phillips 66 (PSX) delivers essential energy solutions through refining, midstream operations, and petrochemical production. This news hub provides investors and industry observers with timely updates on strategic developments across all business segments.
Access consolidated coverage of earnings announcements, refinery optimizations, pipeline expansions, and sustainability initiatives. Our repository simplifies tracking of PSX's operational milestones and market positioning in the evolving energy landscape.
Key updates include quarterly financial results, infrastructure investments, and partnership announcements. Bookmark this page for direct access to primary source materials and analysis of PSX's role in shaping energy markets through its integrated business model.
The board of directors of Phillips 66 (NYSE: PSX) has appointed Mark E. Lashier as CEO and member of the Executive Committee, alongside new independent director Gregory J. Hayes. These appointments, effective July 12, 2022, expand the board to 13 members, with 11 being independent. Lashier brings over 30 years of energy experience, previously leading ChevronPhillips Chemical and rising through the ranks at Phillips. Hayes, CEO of Raytheon Technologies, will serve on key governance committees.
The board of directors of Phillips 66 (NYSE: PSX) has declared a quarterly dividend of 97 cents per share on its common stock. This dividend will be paid on September 1, 2022, to shareholders of record as of the close of business on August 18, 2022. As a diversified energy company with businesses in Midstream, Chemicals, Refining, and Marketing, Phillips 66 is committed to safely providing energy and pursuing a lower-carbon future.
Phillips 66 (NYSE: PSX) will host a webcast at noon EDT on July 29, 2022, to discuss its second-quarter 2022 financial results, set to be released earlier that day. The event will provide an update on strategic initiatives as well. Investors can access the webcast through the Events and Presentations section on the company’s investor website. A replay will be available two hours after the event, with a transcript to follow later. Phillips 66 is a diversified energy company involved in various sectors, including Midstream, Chemicals, Refining, and Marketing.
Phillips 66 (NYSE: PSX) will participate in a fireside chat at the J.P. Morgan Energy, Power & Renewables Conference on Wednesday, June 22, 2022, at 9:50 a.m. EDT. The company's Executive Leadership Team will discuss strategic initiatives and its commitment to disciplined capital allocation. Interested parties can access the webcast on the Phillips 66 Investors site, with a replay available the following day and a transcript released later.
Phillips 66 (NYSE: PSX) has partnered with FreeWire Technologies to launch its first electric vehicle (EV) charging program in the U.S. The initiative supports the companies' commitment to lower-carbon solutions and involves deploying FreeWire's ultrafast, battery-integrated charging technology at Phillips 66's fueling stations. With around 7,000 U.S. sites, the collaboration aims to enhance EV charging speed and accessibility, catering to the growing demand for electric fueling. FreeWire recently raised $125 million to further its operations, showcasing its leadership in EV charging solutions.
Phillips 66 has finalized its plans for the Rodeo Renewed project, transforming its Rodeo, California refinery into one of the world's largest renewable fuels facilities. The project, with an investment of approximately $850 million, aims to start operations in Q1 2024. It will produce renewable diesel, gasoline, and sustainable aviation fuel, reducing carbon emissions by about 65% and creating 500 construction jobs, while preserving over 650 jobs. This initiative supports California's climate goals and signifies a strategic shift towards sustainable energy production.
The board of directors of Phillips 66 (NYSE: PSX) has declared a quarterly dividend of 97 cents per share, reflecting a 5% increase. This dividend is payable on June 1, 2022, to shareholders of record by May 23, 2022. Chairman and CEO Greg Garland emphasized the company's ongoing commitment to shareholder returns, marking the 11th dividend increase since 2012, with an 18% compound annual growth rate. Additionally, $1.45 billion of debt was repaid in April, with plans for further repayments this year.
Phillips 66 (NYSE: PSX) announced the results of its Exchange Offers to swap Old Notes for New Notes, which expired on May 3, 2022. Notably, holders of the 2.450% Senior Notes due 2024 tendered $276.8 million, representing 92.28%. The consent solicitations have allowed for approved amendments to the indenture governing the Old Notes. The settlement is expected on May 5, 2022, where P66 Co will issue new notes and pay holders cash for exchanged notes. The New Notes will be issued only to eligible holders as stipulated in the Offering Memorandum dated April 6, 2022.
Phillips 66 (NYSE: PSX) will host its 2022 Annual Meeting of Shareholders on May 11, 2022, at 9 a.m. CDT, in a virtual-only format. Shareholders of record by March 15, 2022, can participate using a control number found on their proxy materials. Others may access the meeting as guests. The meeting can be viewed at virtualshareholdermeeting.com/PSX2022. A replay and transcript will be available on the Investors site post-event. For more details, visit phillips66.com/investors.
