|
Select the Financial Report:
|
|
Select the Period:
|
|
Description of Phillips 66's Business Segments
Extensive Overview of Phillips 66 Segments, Products, and Services
Phillips 66 is a diversified energy manufacturing and logistics company with a broad spectrum of operations that spans across several vital segments: Refining and Marketing (R&M), Midstream, Chemicals, and Transportation. Each segment is intricately designed to deliver a wide array of products and services tailored to the specific needs of various markets and industries.
1. Refining and Marketing (R&M)
Overview
The R&M segment centers on the transformation of crude oil and other feedstocks into a diverse range of petroleum products. It manages both the refining process and the marketing of these products globally, maintaining significant operations in North America, Europe, and Asia.
Key Operations
- Refineries:
Phillips 66 operates several state-of-the-art refineries equipped with advanced refining technologies to maximize output and efficiency.
North American Refineries:
- Bayway Refinery (New Jersey): Focuses on producing transportation fuels and petrochemical feedstocks.
- Alliance Refinery (Louisiana): Primarily produces gasoline, diesel, and jet fuel designed for high performance.
- Lake Charles Refinery (Louisiana): Known for producing both transportation fuels and high-quality lubricant base oils.
- Wood River Refinery (Illinois) & Borger Refinery (Texas): Specializes in heavy crude processing and the manufacture of diverse transportation fuels.
- Ferndale Refinery (Washington): Catalyzes the production of gasoline and diesel to serve the Northwest region.
International Refineries:
- Humber Refinery (UK): Renowned for high-value products, including graphite and aviation fuels.
- Melaka Refinery (Malaysia): Utilizes innovative coking technologies for the production of assorted refined products.
Product Range
- Transportation Fuels: Gasoline, diesel, jet fuel, and heating oil serve both commercial and consumer markets.
- Petrochemical Feedstocks: Essential raw materials for various petrochemical processes.
- Specialty Products: Tailored fuels and lubricants developed to meet specific industry needs.
Marketing
Phillips 66 leverages a robust marketing network, encompassing approximately 8,500 retail outlets in the United States. The company operates well-known brands like Phillips 66, Conoco, and 76, and uses brand licensing and unbranded sales strategies to enhance market accessibility.
Midstream
Overview
The Midstream segment is crucial for the efficient gathering, processing, transportation, and marketing of natural gas and natural gas liquids (NGLs).
Key Operations
- Natural Gas & NGLs: A vast network of pipelines connects processing facilities to ensure smooth and efficient transport and fractionation.
- DCP Midstream, LLC: This partnership enhances Phillips 66s midstream capabilities, integrating resources and expertise.
Chemicals
Overview
The Chemicals segment is focused on the production and marketing of a wide array of petrochemicals and plastics, catering to industries worldwide.
Key Partnership
- Chevron Phillips Chemical Company LLC (CPChem): A strategic joint venture where Phillips 66 holds a 50% stake, manufacturing numerous chemical products fundamental to diverse industrial applications.
Product Range
- Petrochemicals: Crucial components such as ethylene, propylene, styrenics, and polyolefins, widely used in the production of plastics and resins.
Transportation
Overview
This segment focuses on the safe, reliable, and efficient delivery of crude oil, refined products, natural gas, and NGLs, supported by an extensive logistical infrastructure.
Key Assets
- Pipeline Systems: Over 18,000 miles of pipelines facilitate the transport of crude oil, natural gas, and refined products across the U.S.
- Terminals: A network of 39 finished product terminals, along with multiple storage locations dedicated to bulk products.
- Marine and Rail Fleet: A versatile flotilla of vessels and railcars offering flexible transportation options.
Additional Product Offerings
- Lubricants: Phillips 66 manufactures a variety of lubricants for automotive, commercial, and industrial applications, marketed under brands like Kendall and Conoco. This includes the production of both Group II and Group III base oils.
- Graphite Coke: A leading producer of anode-grade and fuel-grade petroleum cokes, essential for industries such as steel and aluminum manufacturing.
- Polypropylene: Through patented processes, Phillips 66 produces and markets polypropylene under the COPYLENE brand, contributing to various industrial sectors.
International Marketing
Phillips 66 engages in global marketing of its fuels and products, emphasizing retail strategies in European markets while establishing partnerships in regions like Austria, Germany, and the UK. The companys international footprint includes retail and wholesale sales of a range of products, including heating oils, aviation fuels, and specialized offerings for commercial clientele.
Conclusion
Phillips 66 stands as a prominent player in the global energy landscape, with a diversified portfolio that spans refining, transportation, chemicals, and marketing. The companys comprehensive operations allow for adaptability in a rapidly changing market, solidifying its role in energy supply and fostering innovation across the industry.
Composition of Phillips 66 Revenues by
Segments |
| |
| United States |
|
 79.39 % |
of total Revenue |
| United Kingdom |
|
9.73 % |
of total Revenue |
| Germany |
|
4 % |
of total Revenue |
| Other countries |
|
6.87 % |
of total Revenue |
| Refined petroleum products and renewable fuels |
|
73.12 % |
of total Revenue |
| Crude oil resales |
|
10.19 % |
of total Revenue |
| Natural gas liquids NGL and natural gas |
|
14.81 % |
of total Revenue |
| Services and other |
|
1.88 % |
of total Revenue |
| Midstream |
|
18.56 % |
of total Revenue |
| Refining |
|
52.17 % |
of total Revenue |
| M S |
|
68.03 % |
of total Revenue |
| Renewable Fuels |
|
5.02 % |
of total Revenue |
| Chemicals |
|
0.37 % |
of total Revenue |
| Corporate and Other |
|
0.1 % |
of total Revenue |
| Intercompany revenues |
|
0.01 % |
of total Revenue |
| Intercompany revenues Midstream |
|
2.07 % |
of total Revenue |
| Intercompany revenues Refining |
|
33.43 % |
of total Revenue |
| Intercompany revenues M S |
|
1.57 % |
of total Revenue |
| Intercompany revenues Renewable Fuels |
|
2.57 % |
of total Revenue |
| Corporate and Other Eliminations |
|
0.04 % |
of total Revenue |
| Corporate Reconciling Items and Eliminations |
|
-39.65 % |
of total Revenue |
| Consolidating Adjustments |
|
-39.65 % |
of total Revenue |
Q1 three months ended (Mar 31 2025)
|
| Revenues by Business Segments |
Revenues
(in millions $) |
%
(of total Revenues) |
| United States |
24,159.00 |
79.39 % |
| United Kingdom |
2,962.00 |
9.73 % |
| Germany |
1,218.00 |
4 % |
| Other countries |
2,091.00 |
6.87 % |
| Refined petroleum products and renewable fuels |
22,249.00 |
73.12 % |
| Crude oil resales |
3,102.00 |
10.19 % |
| Natural gas liquids NGL and natural gas |
4,506.00 |
14.81 % |
| Services and other |
573.00 |
1.88 % |
| Midstream |
5,647.00 |
18.56 % |
| Refining |
15,875.00 |
52.17 % |
| M S |
20,701.00 |
68.03 % |
| Renewable Fuels |
1,527.00 |
5.02 % |
| Chemicals |
113.00 |
0.37 % |
| Corporate and Other |
30.00 |
0.1 % |
| Intercompany revenues |
2.00 |
0.01 % |
| Intercompany revenues Midstream |
631.00 |
2.07 % |
| Intercompany revenues Refining |
10,173.00 |
33.43 % |
| Intercompany revenues M S |
478.00 |
1.57 % |
| Intercompany revenues Renewable Fuels |
781.00 |
2.57 % |
| Corporate and Other Eliminations |
12.00 |
0.04 % |
| Corporate Reconciling Items and Eliminations |
-12,065.00 |
-39.65 % |
| Consolidating Adjustments |
-12,065.00 |
-39.65 % |
| Total |
30,430.00 |
100 % |
Q1 three months ended (Mar 31 2025)
|
| Revenue Growth rates by Segment |
Y/Y Revenue
% |
Q/Q Revenue
% |
| United States |
-14.86 % |
- |
| United Kingdom |
-23.86 % |
- |
| Germany |
-6.52 % |
- |
| Other countries |
-6.69 % |
- |
| Refined petroleum products and renewable fuels |
-13.56 % |
- |
| Crude oil resales |
-44.39 % |
- |
| Natural gas liquids NGL and natural gas |
35.15 % |
- |
| Services and other |
-50.6 % |
- |
| Midstream |
12.94 % |
- |
| Refining |
-28 % |
- |
| M S |
-8.71 % |
- |
| Renewable Fuels |
33.01 % |
- |
| Chemicals |
-43.78 % |
- |
| Corporate and Other |
-56.52 % |
- |
| Intercompany revenues |
-33.33 % |
- |
| Intercompany revenues Midstream |
-11.99 % |
- |
| Intercompany revenues Refining |
-19.8 % |
- |
| Intercompany revenues M S |
-7.72 % |
- |
| Intercompany revenues Renewable Fuels |
0.77 % |
- |
| Corporate and Other Eliminations |
-7.69 % |
- |
| Corporate Reconciling Items and Eliminations |
- |
- |
| Consolidating Adjustments |
- |
- |
| Total |
- |
- |
Q1 three months ended (Mar 31 2025)
|
| Income by Business Segments |
Income
(in millions $) |
%
(Profit Margin) |
| Midstream |
751.00 |
13.3 % |
| Refining |
-937.00 |
- |
| Renewable Fuels |
-185.00 |
- |
| Chemicals |
113.00 |
100 % |
| Corporate and Other |
-376.00 |
- |
| Total |
526.00 |
1.73 % |
Q1 three months ended (Mar 31 2025)
|
| Income Growth rates by Segment |
Y/Y Income
% |
Q/Q Income
% |
| Midstream |
35.56 % |
- |
| Refining |
- |
- |
| Renewable Fuels |
- |
- |
| Chemicals |
-44.88 % |
- |
| Corporate and Other |
- |
- |
| Total |
- |
- |
Annual Report on Phillips 66 Divisions, Sales by Country |
| |
| United States |
|
79.35 % |
of total Revenue |
| United Kingdom |
|
8.88 % |
of total Revenue |
| Germany |
|
3.68 % |
of total Revenue |
| Other countries |
|
8.09 % |
of total Revenue |
| Refined petroleum products and renewable fuels |
|
72.43 % |
of total Revenue |
| Crude oil resales |
|
15.37 % |
of total Revenue |
| Services and other |
|
2.03 % |
of total Revenue |
| Midstream |
|
13.73 % |
of total Revenue |
| Refining |
|
59.38 % |
of total Revenue |
| M S |
|
64.85 % |
of total Revenue |
| Renewable Fuels |
|
3.89 % |
of total Revenue |
| Chemicals |
|
0.6 % |
of total Revenue |
| Corporate and Other |
|
0.16 % |
of total Revenue |
| Intercompany revenues |
|
0.01 % |
of total Revenue |
| Intercompany revenues Midstream |
|
1.94 % |
of total Revenue |
| Intercompany revenues Refining |
|
35.05 % |
of total Revenue |
| Intercompany revenues M S |
|
1.49 % |
of total Revenue |
| Intercompany revenues Renewable Fuels |
|
2.49 % |
of total Revenue |
| Consolidating Adjustments |
|
-40.98 % |
of total Revenue |
| NGL and natural gas |
|
10.16 % |
of total Revenue |
| Corporate And Other Eliminations |
|
0.03 % |
of total Revenue |
| Corporate Reconciling Items And Eliminations |
|
-40.98 % |
of total Revenue |
Twelve months ended 2024
|
| PSX s Annual Revenue by Geography and Business Segments |
Sales
(in millions $) |
%
(of total Sales) |
| United States |
113,599.00 |
79.35 % |
| United Kingdom |
12,713.00 |
8.88 % |
| Germany |
5,265.00 |
3.68 % |
| Other countries |
11,576.00 |
8.09 % |
| Refined petroleum products and renewable fuels |
103,685.00 |
72.43 % |
| Crude oil resales |
22,008.00 |
15.37 % |
| Services and other |
2,912.00 |
2.03 % |
| Midstream |
19,652.00 |
13.73 % |
| Refining |
85,009.00 |
59.38 % |
| M S |
92,831.00 |
64.85 % |
| Renewable Fuels |
5,571.00 |
3.89 % |
| Chemicals |
863.00 |
0.6 % |
| Corporate and Other |
236.00 |
0.16 % |
| Intercompany revenues |
15.00 |
0.01 % |
| Intercompany revenues Midstream |
2,775.00 |
1.94 % |
| Intercompany revenues Refining |
50,171.00 |
35.05 % |
| Intercompany revenues M S |
2,129.00 |
1.49 % |
| Intercompany revenues Renewable Fuels |
3,567.00 |
2.49 % |
| Consolidating Adjustments |
-58,657.00 |
-40.98 % |
| Total |
143,153.00 |
100 % |
| NGL and natural gas |
14,548.00 |
10.16 % |
| Corporate And Other Eliminations |
50.00 |
0.03 % |
| Corporate Reconciling Items And Eliminations |
-58,657.00 |
-40.98 % |
Twelve months ended 2024
|
| PSX s Annual Income by Country and Business Segments |
Income
(in millions $) |
%
(Profit Margin) |
| Midstream |
2,638.00 |
13.42 % |
| Refining |
-365.00 |
- |
| Renewable Fuels |
-198.00 |
- |
| Chemicals |
876.00 |
101.51 % |
| Corporate and Other |
-1,287.00 |
- |
| Total |
2,175.00 |
1.52 % |
Twelve months ended 2024
|
| Annual Revenue and Income Growth by Country and Business Segments |
% Y/Y Sales Growth |
% Y/Y Income Growth |
| United States |
-4.37 % |
- |
| United Kingdom |
-13.17 % |
- |
| Germany |
-5.08 % |
- |
| Other countries |
37.42 % |
- |
| Refined petroleum products and renewable fuels |
-4.56 % |
- |
| Crude oil resales |
5.69 % |
- |
| Services and other |
-15.94 % |
- |
| Midstream |
1.37 % |
-6.42 % |
| Refining |
-8.33 % |
- |
| M S |
-6.48 % |
- |
| Renewable Fuels |
12.55 % |
- |
| Chemicals |
47.27 % |
46 % |
| Corporate and Other |
-22.62 % |
- |
| Intercompany revenues |
15.38 % |
- |
| Intercompany revenues Midstream |
-1.74 % |
- |
| Intercompany revenues Refining |
-13.48 % |
- |
| Intercompany revenues M S |
-29.03 % |
- |
| Intercompany revenues Renewable Fuels |
0.93 % |
- |
| Consolidating Adjustments |
- |
- |
| NGL and natural gas |
0.56 % |
- |
| Corporate And Other Eliminations |
4.17 % |
- |
| Corporate Reconciling Items And Eliminations |
- |
- |
|
|
