Phillips 66 (NYSE:PSX) and Valero Energy (NYSE:VLO) are two of the largest independent refiners in the world. That's both a benefit and a drawback for investors because the refining industry can be quite volatile.
Refining giant Phillips 66 (NYSE:PSX) will unveil its results for the fourth-quarter of 2016 later this week. While the actual results aren't yet known, investors should already have a pretty good idea what to expect to see in that release.
Phillips 66 (NYSE:PSX) recently put the wraps on 2016 by releasing its fourth quarter results. Overall, the results were quite disappointing as problems across its business portfolio caused earnings to fall well short of expectations.
A fire at the Phillips 66 pipeline near the Williams Discovery natural gas plant in Paradis has been put out, officials said Monday morning (Feb. 13), days after an explosion injured five workers and left another missing.
In a press release published by Phillips 66 announcing its purchase of VP/EP, the company stated that “approximately 200 miles of regulated pipelines that carry raw NGLs from a third-party natural gas processing plant.