PSX Stock Recent News

PSX has leased a new floating storage vessel in Singapore, expanding its fuel oil capacity in one of Asia's key bunkering hubs. The move strengthens its trading flexibility in the region.

Elliott engaged Phillips 66 in November 2023, calling for a series of improvements. The activist has since grown its position and stepped up its efforts.

Investors interested in stocks from the Oil and Gas - Refining and Marketing sector have probably already heard of Equinor (EQNR) and Phillips 66 (PSX). But which of these two stocks offers value investors a better bang for their buck right now?

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HOUSTON--(BUSINESS WIRE)--Phillips 66 Announces Quarterly Dividend.

The shares of energy giants BP plc (NYSE:BP) and Phillips 66 (NYSE:PSX) are moving in opposite directions this morning.

Elliott Investment Management said on Tuesday it has built a stake of more than $2.5 billion in U.S. refiner Phillips 66 , and plans to push for operational changes as well as the sale of the company's midstream business.

PSX aims to significantly lower refining costs over the next two years, driven by the Los Angeles Refinery shutdown and strategic efficiency improvements.

Highlights Need to Streamline Portfolio, Improve Operating Performance and Enhance Oversight Discloses a More Than $2.5 Billion Position Full Letter and Presentation Available at Streamline66.com WEST PALM BEACH, Fla. , Feb. 11, 2025 /PRNewswire/ -- Elliott Investment Management L.P.

CNBC's Andrew Ross Sorkin reports on the latest news.