Phillips 66 PSX

What this company does

Phillips 66 transports, stores and markets crude oil, natural gas liquids and refined petroleum products, refines crude oil and other feedstocks into fuels, processes renewable feedstocks into renewable products, and holds an equity investment in a petrochemicals manufacturer. At December 31, 2025 it had approximately 12,600 employees. Its businesses are organized into five operating segments: Midstream, Chemicals, Refining, Marketing and Specialties, and Renewable Fuels. The Midstream segment owned or held partial interests in approximately 70,000 miles of crude oil, refined petroleum product, NGL and natural gas pipeline systems, 39 refined petroleum product terminals and 35 natural gas gathering and processing plants located in the United States. The Refining segment refines crude oil and other feedstocks into petroleum products such as gasoline and distillates, and included 10 refineries in the United States and Europe. The Chemicals segment consists of a 50% equity investment in CPChem, which owned or had joint venture interests in 29 manufacturing facilities located in Belgium, Colombia, Qatar, Saudi Arabia and the United States. Gasoline, diesel and aviation fuel are marketed through marketer and joint venture outlets carrying the Phillips 66, Conoco and 76 brands, numbering approximately 7,620 branded outlets in 48 states. Headquartered in Houston, Texas, the company was incorporated in Delaware in 2011 in connection with a restructuring of ConocoPhillips that separated its downstream businesses into an independent, publicly traded company.

Written from the business description in Phillips 66's annual report to the U.S. Securities and Exchange Commission, filed 20 February 2026. Every sentence was checked against that document before publication.