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ConocoPhillips (NYSE:COP) And Phillips 66 (NYSE:PSX) To Pay $11.5 Million In Pollution Case

Phillips 66 (NYSE:PSX) and ConocoPhillips (NYSE:COP) will pay $11.5 million as a settlement in a lawsuit for breaching the anti-pollution laws. The two energy companies based in Texas were involved in the lawsuit that was filed at the beginning of 2013. The residents of the affected areas complained that both companies had failed to uphold […]

Phillips 66 (NYSE:PSX) Expands To Boost The Capacity

Boston, MA 09/04/2014 (wallstreetpr) – Phillips 66 (NYSE:PSX) is now adding more railcars to increase their daily capacity of North American crude oil from its refineries. As per the Company’s CEO, Greg Garland, statement, Phillips 66 plans to increase the transport capacity to a level of 185,000 barrels per day (bpd) from Canada and North Dakota’s Bakken […]

Philips 66 (NYSE:PSX) Acquiring Gulf Coast Crude Terminal

Boston, MA 06/13/2014 (wallstreetpr) – Reports indicate that, independent refiner, Philips 66 (NYSE:PSX), is in the process of acquiring 7.1 million barrel storage terminal at Beaumont Texas; this is part of the company’s strategy to beef up its logistics and transportation assets. The facility is currently owned by Chevron Corporation (NYSE:CVX), 96KM away from Philips […]

Phillips 66 (NYSE:PSX) To Purchase Largest Storage Capacity Terminal Near Beaumont, Texas

Boston, MA 06/09/2014 (wallstreetpr) – Phillips 66 (NYSE:PSX) agreed to purchase its largest storage capacity terminal near Beaumont, Texas. The logistics and energy manufacturing company announced its plan to buy a 7.1 million barrel capacity near Beaumont, which will be the company’s biggest terminal in its portfolio. Phillips 66 (NYSE:PSX) President, Tim Taylor, said that […]

Berkshire Hathaway Will Exchange Around Shares Of Phillips 66 (NYSE:PSX) for 100% – Ownership Of Its Pipeline-Services

Boston, MA 01/01/2014 (wallstreetpr) – Berkshire Hathaway will now swap approximately $1.4B in shares of Phillips 66 (NYSE:PSX) for 100% – ownership of the company’s pipeline-services business even as Warren Buffett, the billionaire expands his interest in the oil transportation business. In its regulatory filing, Phillips 66 (NYSE:PSX) said that Berkshire will exchange almost 19M shares. […]

Phillips 66 (NYSE:PSX) rallies after upgrade despite leakage issues

Boston, MA 07/09/2013 (wallstreetpr) – Phillips 66 (NYSE:PSX), an independent downstream energy company, claims that the leaked pipe in Fort Lodge has leaked less than 600 barrels or about 25k gallons of gasoline which is significantly lower than the earlier estimate of more than 1000 barrels. It also claims to repair the pipe successfully within less […]

Energy Stocks Surges lead by Tesoro (NYSE:TSO) – TSO, MRO, VLO, PSX, HES

On Monday, Energy stocks surged alongside the broader U.S. market, held up by expects that several resolution for the so-called fiscal cliff in the U.S. could be near. Energy shares let by Tesoro Corporation (NYSE:TSO), with the firm also ranking as one of the top advancers in the S&P 500 Index. Shares of the Tesoro […]