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Oil company Phillips 66 announced Wednesday that it plans to shut down a Los Angeles-area refinery by the end of 2025, citing market concerns. The company said it will remain operating in the state.
ConocoPhillips is less frequently counted as one of the Big Oil companies due to spinning off its downstream division into Phillips 66. [ 12 ] [ 41 ] Additionally, ConocoPhillips in 2022 ranked lower than any of the six major Big Oil companies on the Fortune Global 500 , and its revenue was superseded by Phillips 66 in 2022.
On October 16, 2024, a jury returned a verdict against Phillips 66 Company, a wholly owned subsidiary of Phillips 66 (NYSE:PSX), in a lawsuit brought by Propel Fuels Inc. In the lawsuit, Propel ...
The first Phillips 66 logo, branded by the Phillips Petroleum Co. in 1930. The Phillips 66 shield logo, linking it to U.S. Route 66, was introduced in 1930. [11] After a series of changes to the color scheme including the popular dark green with orange and blue trim, [11] the company settled on black and orange color scheme that would last nearly thirty years.
ConocoPhillips (NYSE: COP) made a splash on May 29 when it announced an all-stock acquisition of Marathon Oil (NYSE: MRO).The purchase price represents a 14.7% premium to the closing price of ...
In 2015, ConocoPhillips and Phillips 66 agreed to pay $11.5 million to settle a lawsuit alleging that hundreds of their gas stations violated California anti-pollution laws since 2006. The civil complaint, filed in January 2013, alleged that the companies violated state laws on the operation and maintenance of underground gasoline storage tanks ...
It's been a great eight months for investors since ConocoPhillips spun off Phillips 66 . Both have trounced the return of the S&P 500 as investors have realized the true value of the assets. As ...
ConocoPhillips (COP) entered into an agreement to sell some of its portfolio in Australia for $1.39 billion. Meanwhile, downstream major Phillips 66 (PSX) launched a $3 billion new buyback program.