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Alliance Refinery will now be a part of Phillips 66

The Plaquemines Gazette -- Phillips 66, the Houston-based company that launched Tuesday with the breakup of global oil giant ConocoPhillips, will focus on beefing up refining profits and funneling billions into its pipelines and chemicals businesses, CEO Greg Garland said.

In an interview, Garland said the company will execute a number of strategies to revitalize the refining business. Phillips 66 will target lower-cost oil and focus more of its refining capacity on producing diesel and other high-yield fuels. The company also will ramp up exports to foreign markets that offer higher prices for their fuel, he said.

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Submitted May 02, 2012 By: petrohunt

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REPLIES (newest first)Ignore Short Messages

fowlcan Champion Author Oklahoma City Posts:2,110 Points:684,365 Joined:Feb 2011	Message Posted: May 3, 2012 9:01:23 AM Ignore fowlcan Report Abuse And the beat goes on.
ReddevilNO Champion Author New Orleans Posts:3,371 Points:581,190 Joined:Aug 2011	Message Posted: May 3, 2012 5:40:44 AM Ignore ReddevilNO Report Abuse Ok.
Sneakers55 Champion Author Houston Posts:51,301 Points:2,143,925 Joined:Nov 2005	Message Posted: May 3, 2012 4:58:59 AM Ignore Sneakers55 Report Abuse On May 3, 2012 3:53:19 AM, SBlouch wrote: >Very interesting article. Sounds like they are aiming to refine >products which costs more and will make them more money. Us Phillips 66 stockholders (I have 40 shares in my IRA) wouldn't want it any other way.
wrunner Champion Author Virginia Posts:4,445 Points:1,136,585 Joined:Dec 2009	Message Posted: May 3, 2012 4:42:40 AM Ignore wrunner Report Abuse Any to make their operations more efficient and gas prices to go lower.
SBlouch Champion Author San Antonio Posts:8,730 Points:1,859,265 Joined:Apr 2007	Message Posted: May 3, 2012 3:53:19 AM Ignore SBlouch Report Abuse Very interesting article. Sounds like they are aiming to refine products which costs more and will make them more money.
JohnofGB Champion Author Flint Posts:5,421 Points:1,096,195 Joined:Feb 2010	Message Posted: May 3, 2012 1:48:37 AM Ignore JohnofGB Report Abuse Part of the Conoco spin off.
MusicalMan7 All-Star Author Ohio Posts:597 Points:93,330 Joined:Apr 2012	Message Posted: May 3, 2012 12:18:19 AM Ignore MusicalMan7 Report Abuse We always called them "Fill-ups 66!" (:^p)
leraar2 Champion Author Massachusetts Posts:3,764 Points:787,680 Joined:Mar 2011	Message Posted: May 3, 2012 12:17:22 AM Ignore leraar2 Report Abuse so impose EXPORT CONTROLS and TARIFFS. make it less profitable to sell overseas.
MN1 Champion Author Twin Cities Posts:3,359 Points:650,590 Joined:Jun 2011	Message Posted: May 3, 2012 12:07:54 AM Ignore MN1 Report Abuse Get ready for even higher prices at the pump. Greed is in full swing.
bills299 Champion Author Atlanta Posts:3,366 Points:904,490 Joined:May 2005	Message Posted: May 2, 2012 11:50:56 PM Ignore bills299 Report Abuse Not good!!
BIGOILEATURCRUD Champion Author North Carolina Posts:5,771 Points:1,378,480 Joined:Nov 2008	Message Posted: May 2, 2012 11:48:56 PM Ignore BIGOILEATURCRUD Report Abuse "Phillips 66 will target lower-cost oil and focus more of its refining capacity on producing diesel and other high-yield fuels. The company also will ramp up exports to foreign markets that offer higher prices for their fuel, he said." Lower cost oil & exports to foreign markets; connect the dots.
Jeff4U Champion Author Atlanta Posts:8,756 Points:1,852,370 Joined:Nov 2004	Message Posted: May 2, 2012 11:16:34 PM Ignore Jeff4U Report Abuse Whatever you say.
1momsunshine Champion Author Ottawa Posts:5,490 Points:1,000,580 Joined:Mar 2010	Message Posted: May 2, 2012 11:11:20 PM Ignore 1momsunshine Report Abuse ok