EarningsPSX reported stronger-than-expected results, with lower-than-expected losses in Refining vs. consensus estimates.
Midstream BusinessPhillips built a sizeable midstream business over the past decade, growing EBITDA from $1.2Bn to $3.7Bn, with further growth projected.
Strategic PrioritiesPSX refreshed its strategic priorities including returning over 50% of CFO to shareholders, cost cuts, debt reduction, and $1B in Midstream & Chemicals EBITDA.