Phillips 66, the Houston-based oil and gas giant, has been ordered to pay $604.9 million following a trade secrets lawsuit filed by Propel Fuels. A jury in California ruled in favor of Propel, a Sacramento-based low-carbon fuel retailer, accusing Phillips 66 of misappropriating proprietary marketing data and business strategies during acquisition negotiations. The verdict highlights […]
Phillips 66, one of the largest independent oil refiners in the United States, has announced its plan to close its Los Angeles-area refinery by the fourth quarter of 2025. The decision comes as the company re-evaluates its refining strategy amidst changing market dynamics and increased environmental regulations in California. This refinery, located in Carson, processes […]
Voyager Midstream Holdings, backed by Pearl Energy Investments, has announced its acquisition of natural gas gathering and processing assets from Phillips 66. This acquisition, which spans Panola, Rusk, and Harrison counties in Texas and Caddo Parish in Louisiana, strategically places Voyager Midstream Holdings at the heart of the highly productive Haynesville Shale region. The acquired […]
Phillips 66 (NYSE: PSX) has finalized a deal to sell its 25% non-operated common equity interest in the Rockies Express Pipeline LLC (REX) to a subsidiary of Tallgrass Energy, LP (TGE). The transaction, valued at an enterprise value of approximately $1.275 billion, will result in Tallgrass Energy assuming full ownership of the common equity interest […]
Phillips 66 (NYSE: PSX) has reached a definitive agreement to acquire Pinnacle Midland Parent LLC from Energy Spectrum Capital for $550 million in cash. This acquisition is a strategic move to enhance Phillips 66’s footprint in natural gas gathering and processing in the Midland Basin, significantly strengthening its position in the energy sector. Details of […]
Gibson Energy is set to acquire the South Texas Gateway Terminal (STGT) LLC, in a cash deal valued at $1.1 billion, expanding its North American terminal footprint. The newly built South Texas Gateway Terminal, a high-quality crude oil export facility, has positioned itself as a globally competitive liquids terminal and export facility with direct pipeline […]
Chevron Phillips Chemical (CPChem) and QatarEnergy have arrived at a final investment decision (FID) to construct the Golden Triangle Polymers plant, a new petrochemical facility in Orange, Texas with an investment of $8.5 billion. To this effect, the companies have formed Golden Triangle Polymers Company, a joint venture in which Chevron Phillips Chemical holds a […]
US diversified energy company Phillips 66 revealed plans to reconfigure its San Francisco Refinery in Rodeo, California, for producing renewable fuels under the Phillips 66 Rodeo Renewed project. The refinery will stop producing fuels from crude oil and will make fuels from used cooking oil, greases, fats, and soybean oils. The Phillips 66 Rodeo Renewed […]
Phillips 66 has created a joint venture called Bluewater Texas Terminal with Trafigura Group to develop an offshore deepwater port project. The deepwater port project, to be built by Phillips 66, will be located nearly 21 nautical miles east of the entrance to the Port of Corpus Christi. It will comprise a couple of single […]