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Phillips 66 Partners Lp's Business Segments
Phillips 66 Partners Lp's reported revenue by business segment and by geographic region, quarterly and annual, normalized against the consolidated income statement. Free below: the top 3 rows per table, this quarter and this fiscal year. Subscriber access adds the full segment history and operating income by segment.
Reportable Segments
-
Largest Segment
-
Total Revenue
$ 1,146
Regions Reported
-
Annual Results
Revenue by Product & Service Category -
- Lease Revenue82.4%
- Pipeline Services42.8%
- Storage, Processing and Other Revenues42%
- Service17.6%
- Terminals15.3%
Revenue by Product & Service Category -
| Category | Revenue (Millions) | % of Total |
|---|---|---|
| Lease Revenue | $ 944 | 82.4% |
| Pipeline Services | $ 490 | 42.8% |
| Storage, Processing and Other Revenues | $ 481 | 42% |
Product and service categories are a supplemental disclosure and are not required to sum to consolidated revenue or to the reportable segments above.
2 more categories available
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Description of Phillips 66 Partners Lp
Phillips 66 Partners LP is a midstream energy company that specializes in the transportation, storage, and processing of crude oil, refined products, and natural gas liquids. The company operates a diverse portfolio of assets that includes pipelines, terminals, and storage tanks, which are strategically located in key regions of the United States.
The company was founded in 2013 as a master limited partnership by Phillips 66, a leading downstream energy company, to own, operate, develop, and acquire primarily fee-based crude oil, refined petroleum product, and natural gas liquids pipelines, terminals, and other midstream assets.
Phillips 66 Partners LP is headquartered in Houston, Texas and has a workforce of more than 800 employees. The company's management team has extensive experience in the midstream energy sector and is committed to providing reliable, safe, and efficient energy transportation and storage solutions to its customers.
The partnership's assets are strategically located in key transportation hubs, including Texas, Louisiana, Oklahoma, Illinois, and Missouri. Its pipeline system includes the Gray Oak Pipeline, which transports crude oil from the Permian Basin to the Texas Gulf Coast, and the Bakken Pipeline, which transports crude oil from North Dakota to Illinois. Its terminals include the Beaumont Terminal, the largest crude oil terminal on the U.S. Gulf Coast, and the Sweeny Terminal, which is strategically located near refineries and chemical plants in Texas.
In addition to its existing assets, Phillips 66 Partners is constantly evaluating opportunities to expand its footprint and grow its business. The partnership has a disciplined approach to capital allocation and prioritizes investments in projects that offer attractive returns and enhance the value of its existing assets.
Overall, Phillips 66 Partners LP is a well-positioned, well-respected midstream energy company with a strong track record of growth and a commitment to delivering value to its customers and investors.
The company was founded in 2013 as a master limited partnership by Phillips 66, a leading downstream energy company, to own, operate, develop, and acquire primarily fee-based crude oil, refined petroleum product, and natural gas liquids pipelines, terminals, and other midstream assets.
Phillips 66 Partners LP is headquartered in Houston, Texas and has a workforce of more than 800 employees. The company's management team has extensive experience in the midstream energy sector and is committed to providing reliable, safe, and efficient energy transportation and storage solutions to its customers.
The partnership's assets are strategically located in key transportation hubs, including Texas, Louisiana, Oklahoma, Illinois, and Missouri. Its pipeline system includes the Gray Oak Pipeline, which transports crude oil from the Permian Basin to the Texas Gulf Coast, and the Bakken Pipeline, which transports crude oil from North Dakota to Illinois. Its terminals include the Beaumont Terminal, the largest crude oil terminal on the U.S. Gulf Coast, and the Sweeny Terminal, which is strategically located near refineries and chemical plants in Texas.
In addition to its existing assets, Phillips 66 Partners is constantly evaluating opportunities to expand its footprint and grow its business. The partnership has a disciplined approach to capital allocation and prioritizes investments in projects that offer attractive returns and enhance the value of its existing assets.
Overall, Phillips 66 Partners LP is a well-positioned, well-respected midstream energy company with a strong track record of growth and a commitment to delivering value to its customers and investors.
Phillips 66 Partners LP is a prominent master limited partnership established in 2013, primarily focused on owning, operating, and developing midstream energy infrastructure assets in the United States. The company plays a pivotal role in providing energy logistics services that are essential for the functioning of the energy sector. Below is an extensive description of the segments, products, and services offered by Phillips 66 Partners LP.
Segments
1. Transportation:
The transportation segment is a critical component of Phillips 66 Partners LPs operations. It encompasses a vast network of pipelines, rail systems, terminals, and trucks. This segment is dedicated to efficiently transporting a variety of energy resources, including:
- Crude Oil: Unrefined oil that is extracted from the ground and transported to refineries.
- Refined Petroleum Products: Products that have undergone processing to become usable fuels, such as gasoline, diesel, and jet fuel.
- Natural Gas Liquids: A category of hydrocarbon gases that have been condensed into liquid form, which includes products like propane, butanes, and ethane.
2. Terminaling and Storage:
This segment focuses on the acquisition and operation of midstream assets that provide storage and handling capabilities for energy products. Key elements of this segment include:
- Terminals: Facilities that serve as transfer points for crude oil, refined products, and natural gas liquids.
- Storage Tanks: Large containers designed to hold liquids safely prior to transport or further processing.
- Marine Facilities: Infrastructure that supports maritime shipping activities, facilitating the docking and loading/unloading of vessels carrying energy resources.
Products
1. Crude Oil:
Phillips 66 Partners LP is involved in transporting crude oil from various production sites to refineries where it undergoes processing into valuable petroleum products. Their extensive pipeline network enables efficient and safe transportation to meet the growing demand for crude oil across the nation.
2. Refined Products:
The company transports a range of refined petroleum products, which include:
- Gasoline: Fuel primarily used in internal combustion engines.
- Diesel Fuel: Used in diesel engines, common in heavy vehicles and machinery.
- Jet Fuel: A specialized type of aviation fuel used in commercial and private aircraft.
3. Natural Gas Liquids (NGLs):
This includes the transport of vital components such as:
- Propane: Used as fuel for heating, cooking, and in some vehicles.
- Butanes: Utilized as fuel and in petrochemical production.
- Ethane: Mostly employed in the production of ethylene, an essential feedstock in the chemical industry.
Services
1. Pipeline Transportation:
The backbone of Phillips 66 Partners LPs logistics capabilities, this service includes the operation of an extensive array of pipelines that transport crude oil, refined products, and natural gas liquids from production and processing sites to refineries, terminals, and other commercial endpoints. The company’s pipeline operations are pivotal in ensuring timely and safe delivery.
2. Terminaling and Storage Services:
This service leverages the company’s significant assets in the terminaling and storage sector. Facilities are equipped to handle loading, unloading, and temporary storage of energy products, thereby ensuring seamless integration into the supply chain.
3. Marine Transportation:
Through a network of terminals and marine facilities, Phillips 66 Partners LP provides critical dock services that facilitate the loading and unloading of petroleum products from marine vessels. This service is paramount for international trade and cross-water logistics.
4. Rail Transportation:
This aspect of their service involves operating railcars designed specifically for transporting crude oil and other energy resources. Rail transportation serves as an alternative for regions not easily accessible via pipeline, ensuring that energy products reach their destinations economically and efficiently.
Conclusion
In summary, Phillips 66 Partners LP operates as a vital entity within the midstream energy sector, offering comprehensive energy logistics services and a robust portfolio of products. Their extensive transportation networks, terminaling and storage solutions, and diverse service offerings contribute significantly to the energy infrastructure in the United States. As a key player in the industry, the company plays an essential role in facilitating the efficient movement of energy resources throughout the country, thereby supporting the overall health and growth of the energy market.
Segments
1. Transportation:
The transportation segment is a critical component of Phillips 66 Partners LPs operations. It encompasses a vast network of pipelines, rail systems, terminals, and trucks. This segment is dedicated to efficiently transporting a variety of energy resources, including:
- Crude Oil: Unrefined oil that is extracted from the ground and transported to refineries.
- Refined Petroleum Products: Products that have undergone processing to become usable fuels, such as gasoline, diesel, and jet fuel.
- Natural Gas Liquids: A category of hydrocarbon gases that have been condensed into liquid form, which includes products like propane, butanes, and ethane.
2. Terminaling and Storage:
This segment focuses on the acquisition and operation of midstream assets that provide storage and handling capabilities for energy products. Key elements of this segment include:
- Terminals: Facilities that serve as transfer points for crude oil, refined products, and natural gas liquids.
- Storage Tanks: Large containers designed to hold liquids safely prior to transport or further processing.
- Marine Facilities: Infrastructure that supports maritime shipping activities, facilitating the docking and loading/unloading of vessels carrying energy resources.
Products
1. Crude Oil:
Phillips 66 Partners LP is involved in transporting crude oil from various production sites to refineries where it undergoes processing into valuable petroleum products. Their extensive pipeline network enables efficient and safe transportation to meet the growing demand for crude oil across the nation.
2. Refined Products:
The company transports a range of refined petroleum products, which include:
- Gasoline: Fuel primarily used in internal combustion engines.
- Diesel Fuel: Used in diesel engines, common in heavy vehicles and machinery.
- Jet Fuel: A specialized type of aviation fuel used in commercial and private aircraft.
3. Natural Gas Liquids (NGLs):
This includes the transport of vital components such as:
- Propane: Used as fuel for heating, cooking, and in some vehicles.
- Butanes: Utilized as fuel and in petrochemical production.
- Ethane: Mostly employed in the production of ethylene, an essential feedstock in the chemical industry.
Services
1. Pipeline Transportation:
The backbone of Phillips 66 Partners LPs logistics capabilities, this service includes the operation of an extensive array of pipelines that transport crude oil, refined products, and natural gas liquids from production and processing sites to refineries, terminals, and other commercial endpoints. The company’s pipeline operations are pivotal in ensuring timely and safe delivery.
2. Terminaling and Storage Services:
This service leverages the company’s significant assets in the terminaling and storage sector. Facilities are equipped to handle loading, unloading, and temporary storage of energy products, thereby ensuring seamless integration into the supply chain.
3. Marine Transportation:
Through a network of terminals and marine facilities, Phillips 66 Partners LP provides critical dock services that facilitate the loading and unloading of petroleum products from marine vessels. This service is paramount for international trade and cross-water logistics.
4. Rail Transportation:
This aspect of their service involves operating railcars designed specifically for transporting crude oil and other energy resources. Rail transportation serves as an alternative for regions not easily accessible via pipeline, ensuring that energy products reach their destinations economically and efficiently.
Conclusion
In summary, Phillips 66 Partners LP operates as a vital entity within the midstream energy sector, offering comprehensive energy logistics services and a robust portfolio of products. Their extensive transportation networks, terminaling and storage solutions, and diverse service offerings contribute significantly to the energy infrastructure in the United States. As a key player in the industry, the company plays an essential role in facilitating the efficient movement of energy resources throughout the country, thereby supporting the overall health and growth of the energy market.