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Stock Market & Financial Investment News

News Breaks
February 7, 2014
12:02 EDTPSXPhillips 66 receives board approval to move forward with investment in Texas
Phillips 66 has received approval from its board of directors to move forward with both its Sweeny Fractionator One and Freeport Liquefied Petroleum Gas Export Terminal. These two projects represent an investment of more than $3B as part of the company’s Midstream growth program. The Sweeny Fractionator One will be located in Old Ocean, Texas, close to the company’s Sweeny Refinery, and will supply purity natural gas liquids (NGL) products to the petrochemical industry and heating markets. Y-grade supply to the fractionator will come from nearby major pipelines, including the recently completed Sand Hills Pipeline, in which Phillips 66 owns a direct one-third interest. The 100,000 barrel-per-day NGL fractionator is expected to start up in the third quarter of 2015. The Freeport LPG Export Terminal will be located at the site of the company’s existing marine terminal in Freeport, Texas, and will leverage Phillips 66 midstream, transportation and storage infrastructure to supply petrochemical, heating and transportation markets globally. The terminal will have an initial export capacity of 4.4 million barrels per month, the equivalent of eight very large gas carriers with a ship loading rate of 36,000 barrels per hour. Startup of the export terminal is expected in mid-2016.
News For PSX From The Last 14 Days
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April 15, 2014
10:00 EDTPSXOn The Fly: Analyst Downgrade Summary
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08:50 EDTPSXPhillips 66 downgraded to Accumulate from Buy at Tudor Pickering
April 13, 2014
19:44 EDTPSXPhillips 66 halts sale efforts for Irish refinery, Independent says
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April 8, 2014
08:22 EDTPSXPhillips 66 to host analyst meeting
Analyst meeting to be held in New York on April 10 at 2:30 pm. Webcast Link

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