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Stock Market & Financial Investment News

News Breaks
November 9, 2012
09:10 EDTPSXPhillips 66 downgraded to Hold from Buy at Deutsche Bank
Deutsche Bank downgraded Phillips 66 with a $50 price target citing valuation and weather related concerns.
News For PSX From The Last 14 Days
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July 31, 2015
12:18 EDTPSXPhillips 66 sees Q3 refining crude utilization mid-90%
12:17 EDTPSXPhillips 66 sees Q3 global olefins & polyolefins utilization mid-90%
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08:05 EDTPSXPhillips 66 sees FY15 capital budget $4.6B
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08:03 EDTPSXPhillips 66 reports Q2 adjusted EPS $1.83, consensus $1.81
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July 30, 2015
17:07 EDTPSXPhillips 66, Energy Transfer Partners, Sunoco Logistics form JV
Phillips 66 ( PSX), Energy Transfer Partners (ETP) and Sunoco Logistics Partners (SXL) announced that they have formed a joint venture to construct the Bayou Bridge pipeline that will deliver crude oil from the Phillips 66 and Sunoco Logistics terminals in Nederland, Texas, to Lake Charles, Louisiana. The joint venture will also launch an expansion open season for service to the market hub in St. James, Louisiana. Phillips 66 holds a 40% interest in the joint venture and Energy Transfer and Sunoco Logistics each hold a 30% interest. Sunoco Logistics will be the operator of the system. Construction is underway on the Nederland to Lake Charles segment of the pipeline, which will be 30-inch diameter and is expected to begin commercial operations in Q1 of 2016. The companies will also launch a binding expansion open season to assess additional shipper interest for service with connectivity to existing terminal infrastructure and refineries in and around the St. James area. The results of the expansion open season will be used to determine the size of the pipeline to St. James, which has a forecasted in-service date of the second half of 2017. The binding expansion open season will commence in Q3 of 2015. Bona fide potential shippers that would like to receive copies of the expansion open season documents, the throughput and deficiency agreement, and proposed tariffs must first sign a confidentiality agreement.

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