Phillips 66 Co.
Transactions
Phillips 66 Completes EPIC Acquisition
Phillips 66 Completes EPIC Acquisition
ArcLight Completes $865MM Deal for Phillips 66’s Stake in NatGas Line
ArcLight Completes $865MM Deal for Phillips 66’s Stake in NatGas Line
Phillips 66 Offers to Buy DCP Midstream in $3.1 Billion Cash Deal
Phillips 66 Offers to Buy DCP Midstream in $3.1 Billion Cash Deal
Phillips 66 Offers to Buy DCP Midstream in $3.1 Billion Cash Deal
Phillips 66 Offers to Buy DCP Midstream in $3.1 Billion Cash Deal
Phillips 66 to Buy Remaining Stake in Midstream MLP for $3.4 Billion
Phillips 66 to Buy Remaining Stake in Midstream MLP for $3.4 Billion
This content is locked until you subscribe
This content is locked until you subscribe
This content is locked until you subscribe
This content is locked until you subscribe
Subscribe to Access
Instantly unlock over 15 years of A&D transactions and financing data.
New Financings
To redeem the entire outstanding principal amount of its floating rate senior notes due 2024. The…
Repurchased 35 million shares of Phillips 66 common stock for $93.725 per share for a total of $3.3…
Increased its share repurchase program by $2 billion from $7 billion. Plans to fund the repurchases…
Approved a new share repurchase program funded primarily with cash generated by its operations.
This content is locked until you subscribe
This content is locked until you subscribe
This content is locked until you subscribe
Subscribe to Access
Instantly unlock over 15 years of A&D transactions and financing data.
News
Phillips 66 Leans into Midstream Growth Despite Elliott Activism
Phillips 66 grew its midstream segment so much that activist investor Elliott Management pushed to splinter the company—but the refining giant sees gold in moving NGLs.
Activist Elliott Poised to Win Two Board Seats at Phillips 66, Sources Say
Elliott is pressing Phillips 66 to sell some assets to become a pure-play refiner, improve performance at its refining business and improve corporate governance.
Phillips 66 Sells Majority Interest in European Fuel Retailer
Stonepeak and Energy Equation Partners acquired a 65% interest in JET Tankstellen Deutschland from Phillips 66 in a transaction valuing the business at US$2.8 billion.
Energy Transition in Motion (Week of May 9, 2025)
Here is a look at some of this week’s renewable energy news, including a low-carbon deal between Exxon Mobil and Marubeni.
US SAF, Biofuels Output Nearly Doubled in Three Months—EIA
U.S. production of sustainable aviation fuel (SAF) is growing exponentially as major new projects ramp up.
Phillips 66 Adding Permian Gas Plant, Sticking with NGL Growth Plan
Phillips 66 said it will add a gas processing plant in the Permian Basin while continuing to strengthen its NGL system.
Phillips 66 Fires Back at Elliott Over Citgo Conflict of Interest Amid Board Fight
The salvo is the latest in a bitter spat between Phillips 66 and Elliott that is due to come to a head at a shareholder meeting next month.
ONEOK, MPLX’s ‘Wellhead-to-Water’ Deal Dominates Permian NGL Race
The $1.75 billion ONEOK-MPLX deal reflects how midstream companies are going big in the petrochemicals sector.
Phillips 66 Urges Shareholders to Vote Against Elliott at Annual Meeting
Phillips 66’s board of directors is again pushing against one of its largest investors—Elliott Investment Management—with a letter to shareholders detailing how to vote against the investment company at its upcoming annual meeting.
Phillips 66 Completes EPIC Acquisition
The NGL midstream deal to buy EPIC NGL is part of an ongoing dispute between Phillips and activist investor group Elliott Investment Management.
Boaz Energy Completes Sale of PermRock Properties to T2S
Boaz Energy II has completed the sale of PermRock Royalty Trust’s underlying oil and gas properties to T2S Permian Acquisition II LLC.
Phillips 66 Director Criticizes Activist Investor Elliott Amid Proxy Battle
A boardroom battle between U.S. refiner Phillips 66 and activist investor Elliott Investment Management has intensified with a Phillips 66 independent director leveling criticisms at Elliott in an open letter to shareholders.
Elliott Sues Phillips 66 to Put Board Nominees Up for Vote
Elliott Investment Management has asked a court to order Phillips 66 to require four board seats to stand for election at its annual shareholder meeting.
Trump to Host Top US Oil Chief Executives as Trade Wars Loom
U.S. President Donald Trump will host top oil executives at the White House on March 19 as he charts plans to boost domestic energy production in the midst of falling crude prices and looming trade wars.
Phillips 66’s Brouhaha with Activist Investor Elliott Gets Testy
Mark E. Lashier, Phillips 66 chairman and CEO, said Elliott Investment Management’s proposals have devolved into a “series of attacks” after the firm proposed seven candidates for the company’s board of directors.