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Phillips 66

Logo: Phillips 66 Company, Public domain, via Wikimedia Commons5

American multinational energy company

The Phillips 66 Company is an American multinational energy company headquartered in Westchase, Houston, Texas. Its name, dating back to 1927 as a trademark of the Phillips Petroleum Company, assisted in establishing the newly reconfigured Phillips 66.3 From Wikipedia, CC BY-SA 4.0

$293.53 up 4.33 (1.50%)Price as of Oct 16, 2026 at 19:58 UTC

Last updated Oct 18, 2026.

Overview

May 1, 2012Founded1

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  • TickerPSX on NYSE1
  • Industrydownstream, petroleum industry1
  • HeadquartersWestchase1
  • Founded inBartlesville1
  • Websitewww.phillips66.com
  • Legal formDelaware corporation1
  • Incorporated inDE6
  • Business address2331 Citywest Blvd., Houston, Tx 770426
  • Filer categoryLarge accelerated filer6

The Phillips 66 Company is an American multinational energy company headquartered in Westchase, Houston, Texas. Its name, dating back to 1927 as a trademark of the Phillips Petroleum Company, assisted in establishing the newly reconfigured Phillips 66. The company today was formed ten years after Phillips merged with Conoco to form ConocoPhillips. The merged company spun off its refining, chemical, and retail assets – known in the oil industry as downstream operations – into a new company bearing the Phillips 66 name. It began trading on the New York Stock Exchange on May 1, 2012, under the ticker PSX.3

Financials

From the company’s reports to the SEC. Every number links to the filing it came from.

Key numbers, fiscal 2025

3.3%Net margin8
-7.5%Revenue growth, 20258
15.1%Return on equity8

What sells

Revenue by product, business segment and region, as the company reports it to the SEC.

Products and services

Refined Petroleum Products and Renewable Fuels brought in 74% of the revenue Phillips 66 broke down this way in fiscal 2025.

  1. Refined Petroleum Products and Renewable Fuels$97.4B874%down 6% from 2024
  2. Natural Gas Liquids (NGL)$17.1B813%up 17% from 2024
  3. Crude Oil$15.2B811%down 31% from 2024
  4. Other Product Line$2.8B82%down 5% from 2024
Products and services by year
Products and services202320242025
Refined Petroleum Products and Renewable Fuels$108.6B$103.7B$97.4B
Natural Gas Liquids (NGL)$14.5B$14.5B$17.1B
Crude Oil$20.8B$22.0B$15.2B
Other Product Line$3.5B$2.9B$2.8B

Business segments

Marketing & Speciality brought in 46% of the revenue Phillips 66 broke down this way in fiscal 2025.

  1. Marketing & Speciality$83.7B846%down 7% from 2024
  2. Refining$74.9B841%down 12% from 2024
  3. Midstream$18.6B810%up 16% from 2024
  4. Renewable Fuels$6.2B83%up 11% from 2024
Business segments by year
Business segments202320242025
Marketing & Speciality$95.9B$90.3B$83.7B
Refining$92.2B$85.0B$74.9B
Midstream$15.8B$16.0B$18.6B
Renewable Fuels$4.9B$5.6B$6.2B

Regions

United States brought in 79% of the revenue Phillips 66 broke down this way in fiscal 2025.

  1. United States$104.3B879%down 8% from 2024
  2. United Kingdom$13.2B810%up 4% from 2024
  3. Other Geographical Areas$9.9B87%down 14% from 2024
  4. Germany$5.0B84%down 5% from 2024
Regions by year
Regions202320242025
United States$118.8B$113.6B$104.3B
United Kingdom$14.6B$12.7B$13.2B
Other Geographical Areas$8.4B$11.6B$9.9B
Germany$5.5B$5.3B$5.0B

Where the money goes

Where each dollar of revenue went, fiscal 2025

  • Cost of revenue88¢$116.1B
  • Research and development0¢$6.0M
  • Selling, general and admin2¢$2.4B
  • Other costs6¢$8.5B
  • Income tax1¢$892.0M
  • Profit3¢$4.4B

Out of $132.4B in revenue.8

Where each dollar of operating cash went, fiscal 2025

  • Dividends paid39¢$1.9B
  • Share buybacks24¢$1.2B
  • Kept or used elsewhere37¢$1.8B

Out of $5.0B of cash from operations.8

Financial statements

Revenue91011128$132.4B in 2025+23% since 2019
0$50.0B$100.0B$150.0B$200.0B2019: $107.3B$107.3B20192020: $64.1B$64.1B2020−40%2021: $111.5B$111.5B2021+74%2022: $170.0B$170.0B2022+52%2023: $147.4B$147.4B2023−13%2024: $143.2B$143.2B2024−3%2025: $132.4B$132.4B2025−8%
Net income91011128$4.4B in 2025+43% since 2019
-$5.0B0$5.0B$10.0B$15.0B2019: $3.1B$3.1B20192020: -$4.0B-$4.0B20202021: $1.3B$1.3B20212022: $11.0B$11.0B2022+737%2023: $7.0B$7.0B2023−36%2024: $2.1B$2.1B2024−70%2025: $4.4B$4.4B2025+108%

Every line of the income statement in the latest annual report, as filed.8

Period ending2025-12-312024-12-312023-12-31
Sales and other operating revenues$132.4B$143.2B$147.4B
Equity in earnings of affiliates$762.0M$1.8B$2.0B
Net gain on dispositions$3.0B$321.0M$115.0M
Other income$438.0M$243.0M$359.0M
Total Revenues and Other Income$136.6B$145.5B$149.9B
Purchased crude oil and products$116.1B$130.0B$128.1B
Operating expenses$6.4B$5.9B$6.2B
Selling, general and administrative expenses$2.4B$2.8B$2.5B
Depreciation and amortization$3.3B$2.4B$2.0B
Impairments$1.1B$456.0M$24.0M
Taxes other than income taxes$791.0M$329.0M$707.0M
Accretion on discounted liabilities$47.0M$40.0M$29.0M
Interest and debt expense$1.0B$907.0M$897.0M
Foreign currency transaction (gains) losses-$1.0M$11.0M$22.0M
Total Costs and Expenses$131.1B$142.8B$140.4B
Income before income taxes$5.4B$2.7B$9.5B
Income tax expense$892.0M$500.0M$2.2B
Net Income$4.5B$2.2B$7.2B
Less: net income attributable to noncontrolling interests$125.0M$58.0M$224.0M
Net Income Attributable to Phillips 66$4.4B$2.1B$7.0B
Basic (in dollars per share)$10.82$5.01$15.56
Diluted (in dollars per share)$10.79$4.99$15.48
Basic (in shares)406.0M shares420.2M shares450.1M shares
Diluted (in shares)408.1M shares421.9M shares453.2M shares

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The story

Beginning (1917–1927)

The Phillips Petroleum Company was founded by Lee Eldas "L.E." Phillips and Frank Phillips of Bartlesville, Oklahoma, and incorporated on June 13, 1917. The new company had assets of $3 million, 27 employees and land throughout Oklahoma and Kansas. After discovery of Texas's huge Panhandle gas field in 1918 and the Hugoton Field to its north in Kansas, Phillips became increasingly involved in the rapidly developing natural gas industry. In particular, the company specialized in extracting liquids from natural gas and, by 1925, was the nation's largest producer of natural gas liquids. According to the Phillips Petroleum Company Museum in Bartlesville, the "Phillips 66" name for the gasoline came about by a combination of events. The specific gravity of the gasoline was close to 66; the car testing the fuel did 66 miles per hour; and, the test took place on US Route 66. So, the naming committee unanimously voted for “Phillips 66.”

First service station (1927–1954)

The first Phillips 66 service station opened on November 19, 1927, at 805 E. Central Avenue in Wichita, Kansas. This station still stands, preserved by the local historical society. The first Phillips 66 service station built in Texas opened on July 27, 1928, on the corner of 5th and Main streets in Turkey, Texas. In 1932, the 76 brand, long familiar in the western U.S., was created by Union Oil Company of California (later Unocal). In 1946, Phillips purchased the Utah-based Wasatch Oil Co., bringing the Phillips 66 brand to the northern Rocky Mountain states and the far eastern portions of Oregon and Washington.

Motor oil (1954–2000)

Phillips was among the first oil companies to introduce a multi-grade motor oil, "TropArtic", in 1954. Such motor oils were designed to be used year-round in automobile engines, as opposed to single grades for which different grades of motor oils were recommended to meet weather variances. Phillips 66 sells motor oil under the Kendall brand.

Phillips also had gasoline stations in Canada's western provinces of Alberta, British Columbia, Manitoba, and Saskatchewan under the name Pacific 66 until the late 1970s.

In 1966, Phillips entered the West Coast market by purchasing Tidewater Oil Co.'s refining and marketing properties in that region and rebranding all Flying A distributorships and service stations to Phillips 66.

In 1967, Phillips became the nation's second oil company, after Texaco, to sell and market gasoline in all 50 states, by opening a Phillips 66 station at 2811 Seward Highway in Anchorage, Alaska. Phillips 66 would also open a second station at 1900 Muldoon Road, also in Anchorage. It were the only two Phillips 66 stations in the State of Alaska. Phillips 66 would sell both stations in the State to the Tesoro Alaskan Petroleum Corporation on February 17, 1973. However, Phillips' experiment in 50-state marketing was short-lived.

The company withdrew from gasoline marketing in the northeastern U.S. in 1972, followed by Alaska in February 1973, and sold the former Tidewater properties on the West Coast to The Oil & Shale Corporation (Tosco) in 1976. Today, Phillips 66 primarily operates in the Midwest and Southwest. In recent years, the 76, Phillips 66 and Conoco brand-names have begun to reappear in Eastern markets, including the New York City metro region, via a licensing deal with Motiva Enterprises.

Mergers (2000–2012)

Phillips Petroleum created a joint venture with Chevron Corporation's chemicals and plastics division in 2000 and also acquired ARCO Alaska from BP. It purchased Tosco, which included Circle K convenience stores and Union 76 gasoline, in 2001. In 1983, Phillips Petroleum purchased the General American Oil Company from owners Algur H. Meadows, Henry W. Peters, and Ralph G. Trippett.

Read the full text

In 2002, Phillips Petroleum merged with Conoco to form ConocoPhillips. The merged company continued marketing gasoline and other products under the Phillips 66, Conoco, and 76 brands. However, Phillips 66 Company licenses the Phillips 66 brand to Suncor Energy for its Phillips 66-branded stations in Colorado.

Spin-off from ConocoPhillips (2012–present)

In 2012, Phillips 66 was spun off from ConocoPhillips, creating a company about as big as Valero Energy, the largest refiner at the time.

In October 2013, two workers were injured in an accident at the company's Humber refinery, which resulted in Phillips 66 being fined more than £1.2 million by the Health and Safety Executive in May 2020.

On December 30, 2013, it was announced that Berkshire Hathaway would trade more than 19 million of its 27.2 million shares in Phillips 66 to acquire a business that makes additives that help crude oil flow through pipelines. The final number of shares was determined when the deal closed.

On February 17, 2015, Phillips 66 sold two natural gas pipeline systems to its affiliate, Phillips 66 Partners, for $1.01 billion in cash and stock. In 2025, Phillips 66 bought the NGL companies EPIC Y-Grade GP LLC and EPIC Y-Grade LP for $2.2 billion, which own NGL pipelines, as well as fractionation and distribution systems and several subsidiaries. The purchase Phillips 66 connected operations in the Permian basin with Gulf Coast refineries and export sites.

In December 2017, Phillips 66 made a bid to acquire Propel Fuels and both companies began working together with Propel disclosing proprietary data and strategies. In August 2018, Phillips 66 terminated the acquisition deal. In February 2022, Propel filed a lawsuit against Phillips 66’s California business, after Phillips 66 started to develop a renewable fuel business. In October 2024, a jury ordered Phillips 66 to pay $604.9 million in damages to Propel for violating the California Uniform Trade Secrets Act.

In January 2023, Phillips 66 acquired all of the publicly traded stocks of DCP Midsteam's pipeline operations for $3.8 billion. Through this acquisition the total amount of Phillips 66’s stake in DCP doubled to 86.8%.

From Wikipedia’s article on Phillips 66, shared under CC BY-SA 4.0.7

Leadership

Who has led Phillips 66, and when. Pick a name to see everywhere that person has worked.

Board members and other officers (13)

Products and brands

Listed on Wikidata.1

Marketing

From the late 1930s until the 1960s, Phillips employed registered nurses as spokespersons for their company, calling them "Highway Hostesses". They made random visits to Phillips 66 stations within their districts. The nurses inspected station restroom facilities to ensure they were clean and stocked with supplies. They also served as concierges, spreading goodwill for the company by helping motorists identify suitable dining and lodging facilities. (Union 76 employed similar hostesses, called the "Sparkle Corps".)

In 1973, Phillips began billing itself as "The Performance Company", promoting innovations with asphaltic materials, fertilizers, and other non-automotive products as well as its traditional automotive products. Other slogans have included: "Go first-class.... Go Phillips 66"; "The gasoline that won the West"; "Good things for cars and the people who drive them"; "Hard working gas"; and "At Phillips 66, it's performance that counts." Their slogan as of July 2015 is "Proud To Be Here". Phillips 66's newest slogan as of 2017 is “Live To The Full”.

Phillips 66 has long been a supporter of basketball in the Midwest and Southwest, particularly at the collegiate and senior amateur level. The men's and women's conference basketball tournaments of the Big Eight Conference, which featured multiple universities in Phillips 66's footprint, was officially sponsored by the firm since the 1980s: the sponsorship would move to its successor, the Big 12 Conference, in 1997, and Phillips remains the tournament's presenting sponsor to this day. Company employees founded the Phillips 66ers team in 1919, initially playing against other Bartlesville and Tulsa-area company teams or athletic clubs. Chairman Frank Phillips would later expand the team to play a high-quality, nationwide schedule against other amateur teams while marketing Phillips 66 products. Before the foundation of the NBA after World War II, many top collegiate players would continue to play organized ball on these "industrial" teams while earning a living as corporate employees and keeping their amateur status to play in the Olympics. The most notable 66er was Bob Kurland, who won two NCAA titles at nearby Oklahoma A&M and was considered one of American basketball's first great "big men". The 7-footer passed up the opportunity to play pro for a marketing job at Phillips, winning three AAU titles and two Olympic gold medals while eventually rising to the executive level and helping to develop self-serve gas stations. Rising pro salaries and the resulting loss of national media coverage spelled doom for senior AAU ball, though, and the 66ers would close up shop after losing in the 1968 AAU quarterfinals.

Phillips 66 sponsored PBS programming during the 1980s. It funded A.M. Weather; The Search for Solutions; and Onstage with Judith Somogi.

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Logo

The Phillips 66 shield logo, linking it to U.S. Route 66, was introduced in 1930. After a series of changes to the color scheme including the popular dark green with orange and blue trim, the company settled on black and orange color scheme that would last nearly thirty years. In 1959, Phillips replaced these colors with red, white and black, the one still deployed. The first design had the second 6 lower than the first; the current design does not.

Operations

In the United States, the company operates Conoco, Phillips 66 and 76 stations. In Europe, Phillips 66 operates Jet filling stations in Austria, Denmark, Germany, Sweden and the United Kingdom. It sold its Jet stations in Belgium, the Czech Republic, Finland, Hungary, Poland and Slovakia to its Russian affiliate, Lukoil. It uses the Coop identity in Switzerland. The company is the fourth largest finished lubricants supplier in the United States. Phillips 66 has stations in 44 U.S. states, just behind Shell Oil Company and ExxonMobil, lacking a presence in Alaska, Delaware, Maine, New Hampshire, Vermont, and West Virginia.

Phillips 66 owns 13 refineries with a net crude oil capacity of 2.2 million barrels per day (350×10^3 m3/d), 10,000 branded marketing outlets, and 15,000 miles (24,000 km) of pipelines. It has 50 percent stake in DCP Midstream, LLC, a natural gas gatherers and processors with 7.2 billion cubic feet per day (200×10^6 m3/d) of processing capacity. It also owns 50 percent stake in Chevron Phillips Chemical Co.

Phillips 66 also owns a one-quarter share in the controversial Dakota Access Pipeline.

Refineries

* Denotes joint ventures.

Sources (Mar 31, 2011)

In 2015, the Los Angeles refinery was processing 21,512 barrels per day of Amazonian oil. Phillips 66's Los Angeles (CA), Lake Charles (LA), San Francisco (CA), and Sweeney (TX) refineries were receiving and processing crude oil from the Amazon River Basin of South America. The San Francisco Refinery converted from fossil fuels to renewable diesel fuel. Closure of the Los Angeles Refinery was announced in 2024.

From Wikipedia’s article on Phillips 66, shared under CC BY-SA 4.0.7

Subsidiaries and ownership

Owners

Divisions

Also owns

From Wikidata.1

Acquisitions

  1. May 1, 2012Acquired Conoco1

Timeline

  1. May 1, 2012Founded Founded in Bartlesville1
  2. May 1, 2012Acquisition Acquired Conoco1
  3. Apr 30, 2012Went public Listed on NYSE1

Recent filings

  1. Oct 5, 20268-K
  2. Sep 17, 20264
  3. Sep 16, 2026144
  4. Sep 14, 20264
  5. Aug 21, 20268-K
  6. Aug 13, 20264
  7. Aug 12, 20264
  8. Aug 12, 2026144
  9. Aug 11, 2026144
  10. Aug 11, 20264
  11. Aug 11, 20264
  12. Aug 11, 2026144
  13. Aug 10, 2026144
  14. Aug 10, 2026144
  15. Aug 7, 2026144

Every filing from the last three years, summarized. The full record is on SEC EDGAR.2