Phillips Petroleum Company

What Phillips Petroleum Company does

Phillips 66 (NYSE: PSX) is an integrated downstream energy company headquartered in Houston, Texas, operating across refining, midstream, marketing and specialty chemicals. The company traces its origin to Phillips Petroleum Company (founded 1917 in Bartlesville, Oklahoma) and was spun off from ConocoPhillips in 2012 with refining, marketing, chemicals and midstream assets consolidated under the current corporate entity. The refining segment operates 11 U.S. refineries producing transportation fuels, lubricants and petrochemical feedstocks (six of which carry Energy Star certifications), complemented by a midstream business spanning pipeline transportation, terminaling and storage for crude oil, natural gas and refined products.

The marketing and specialties footprint is built on a four-brand consumer retail network (Phillips 66, 76, Conoco, Jet), an aviation fuel business operating through a branded FBO network and marketers such as Arrow Energy, and a lubricants platform spanning Phillips 66 Lubricants, Kendall and the Red Line Oil performance brand. Chemical exposure comes primarily through the CPChem joint venture with Chevron (polyethylene and polypropylene), while specialty polymers are produced in-house as the COPYLENE polypropylene brand at the Bayway Refinery (Linden, NJ; 775 million pounds/year capacity), making Phillips 66 one of only two Northeast polypropylene producers. Renewable fuels capabilities are concentrated at the Rodeo Renewable Energy Complex (Rodeo, CA), where the company is converting a 125-year-old crude refinery into an 800 million gallons/year renewable diesel and SAF facility, with on-site solar generation by NextEra Energy Resources supporting operations.

Revenue is generated primarily through transaction-based fuel and lubricant sales across consumer retail stations and commercial/B2B channels, aviation fuel offtake via FBOs and marketers, contract supply of branded refined products and polypropylene resin, and equity earnings from the CPChem joint venture. Pricing across refined products, aviation fuel and commercial offtake is described as negotiated/contract-based with no public disclosure, while consumer pump pricing varies by market. The go-to-market blends enterprise field sales (airlines, large commercial accounts, NextEra, Memorial Hermann Life Flight) with event-driven consumer activation through NFL sponsorships (Texans, Seahawks, Broncos), Big 12 Basketball and NMCA Muscle Car Nationals motorsports, plus digital channels such as the Fuel Forward consumer app and emerging ultra-fast EV charging at flagship 76 and Conoco stations.

Name

Phillips Petroleum Company

Legal name

Phillips 66 Company

Website

https://phillips66.com

Company type

Public

Founded year

2012

Operating status

Operating

Headcount range

5,001–10,000 employees

Short description

Integrated U.S. downstream energy company (NYSE: PSX) operating 11 U.S. refineries, a four-brand consumer fuel retail network (Phillips 66, 76, Conoco, Jet), branded aviation fuel operations, a lubricants portfolio, the CPChem petrochemicals joint venture, and the Rodeo Renewable Energy Complex renewable diesel and SAF facility.

Ownership category

akta.pro rank

Product category

Petroleum Refining and Marketing

NAICS

Petroleum Refineries (324110), Petroleum and Coal Products Manufacturing (324), Pipeline Transportation of Refined Petroleum Products (486910), Fuel Dealers (45721)

SIC

Petroleum Refining (2911), Wholesale-Petroleum & Petroleum Products (No Bulk Stations) (5172), Wholesale-Petroleum Bulk Stations & Terminals (5171)

akta.pro primary industry

Conversion Refineries (FCC/Hydrocracking/Coking) (EUALAGAB)

akta.pro secondary industries

Fuel Pricing, Loyalty & Payments Platforms (POS, Mobile Pay, Fleet Cards, Loyalty Programs) (EUALAIAK), Oilfield & Refining Specialty Chemicals (IMAEABAI)

Keywords

• Petroleum refining
• Branded fuel marketing
• Midstream pipeline services
• Renewable diesel production
• Petrochemical manufacturing

Headquarters

HQ city

Bartlesville

HQ country

United States

HQ region

North America

Offices9 records

Markets served

GTM type

B2B and B2C

Offering type

Hardware or Manufacturing

Cost components

Supply Chain, Operations, Personnel, Infrastructure, Marketing or Sales, Technology or R&D

Revenue model

1. Refining: Conventional petroleum refining operations processing crude oil into transportation fuels, lubricants, and other petroleum products. The company operates 11 U.S. refineries.
2. Marketing and Branded Distribution: Marketing and distribution of refined petroleum products through a network of branded retail stations under multiple brands (Phillips 66, 76, Conoco, Jet) and commercial channels.
3. Midstream: Pipeline transportation, storage, and other midstream services for crude oil, natural gas, and refined products.
4. Chemicals (CPChem Joint Venture): Petrochemical operations through CPChem, the joint venture with Chevron, producing polypropylene (COPYLENE® brand) and other chemical products.
5. Renewable Fuels: Production of renewable diesel and sustainable aviation fuel (SAF) at facilities like the Rodeo Renewable Energy Complex, targeting California's low-carbon fuel market.

Go-to-market motion2 records

Distribution channels5 records

Marketing channels5 records

Core offering

Phillips 66 is an integrated downstream energy company that refines crude oil into transportation fuels, lubricants, and petrochemical feedstocks across 11 U.S. refineries; markets those fuels through a multi-brand retail station network (Phillips 66, 76, Conoco, Jet) and commercial channels; operates midstream pipeline, storage, and terminal assets; produces renewable diesel and sustainable aviation fuel at the Rodeo Renewable Energy Complex; and manufactures polypropylene resin under the COPLENE brand at the Bayway Refinery through the CPChem joint venture with Chevron.

Product overview

Phillips 66 is an integrated downstream energy company operating across refining, midstream, marketing, and renewable fuels. The company offers a diversified portfolio of consumer fuel brands (Phillips 66, 76, Conoco, Jet) and specialized products including Phillips 66 Aviation, Phillips 66 Lubricants, Kendall, and Red Line Oil. In renewable energy, Phillips 66 produces sustainable aviation fuel (SAF) and renewable diesel at its Rodeo Renewable Energy Complex, while its chemical business manufactures polypropylene resin (COPLENE) at Bayway Refinery. The company also provides EV charging infrastructure and digital services through its Fuel Forward mobile application. The business operates through five segments: Refining, Midstream, Marketing, Chemicals (via CPChem joint venture), and Renewable Fuels.

Differentiator

Problem solved

Functional benefit

Products and services

• Refining Operations
• Midstream Services
• Branded Retail Fuel (Phillips 66, 76, Conoco, Jet)
• Phillips 66 Aviation
• Phillips 66 Lubricants
• Kendall Motor Oil
• Red Line Oil

Quantifiable outcome

• 50% reduction in greenhouse gas emissions
• +1 more outcomes

Named customers6 records

Segments5 records

Ideal customer profiles4 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature2 records

Partnerships

15 partnerships are on record, tiered core and minor.

• NextEra Energy ResourcescoreStrategic or Co-development Partner · 8 May 2025Phillips 66 and NextEra Energy Resources began commercial operations at the Rodeo Renewable Energy Complex solar facility in May 2025, marking a significant step in the company's renewable energy initiatives.
• United AirlinescoreStrategic or Co-development Partner · 5 December 2024Phillips 66 and United Airlines signed a sustainable aviation fuel (SAF) supply agreement to support United's sustainability goals and advance SAF adoption in aviation.
• Memorial Hermann FoundationcoreStrategic or Co-development Partner · 1 January 2024Phillips 66 announced partnership to be official fuel provider for Memorial Hermann Life Flight, gifting up to $1.5 million worth of fuel annually for five years to support the new Life Flight helicopter fleet.
• Project Lead the WaycoreStrategic or Co-development Partner · 1 January 2024$1 million gift to expand PLTW Gateway program exposing middle school students to STEM careers, following initial $1 million investment in 2023.
• ST MathcoreStrategic or Co-development Partner · 1 January 2024$1.1 million grant to implement game-based ST Math program in Ector County Independent School District (Permian Basin) for elementary and prekindergarten students.
• Arrow EnergyminorChannel Partner/ Reseller/ Distributor · 18 July 2023Arrow Energy serves as a Phillips 66 Aviation fuel marketer, distributing aviation fuel products under the Phillips 66 brand.
• Junior Achievement of Southeast TexascoreStrategic or Co-development Partner · 1 January 2023$5 million cornerstone donation for Phillips 66 JA Discovery Center, a 40,000-square-foot facility for youth education and workforce readiness. Additional $2.2 million contributed since 2012.
• Operation BBQ ReliefminorStrategic or Co-development PartnerPhillips 66 provides financial support to Operation BBQ Relief nonprofit for disaster relief efforts, including nearly 34,000 meals served in Lake Jackson, Texas after Hurricane Beryl.
• Blue Wave Supplier Development ProgramminorStrategic or Co-development PartnerAPI and Blue Wave initiative that Phillips 66 sponsors to equip diverse small businesses with resources for energy industry standards. 30-member cohorts undergo six months of training.
• Houston TexanscoreGTM or Marketing PartnerProfessional football sponsorship including naming rights to NRG Stadium Southeast Gate, fueling team mascot vehicle, and game day activations promoting Fuel Forward app.
• Seattle SeahawkscoreGTM or Marketing PartnerProfessional football sponsorship with similar activations to Houston Texans. EV charging stations commissioned in Washington in late 2023.
• Denver BroncoscoreGTM or Marketing PartnerProfessional football sponsorship with game day activations. First 76 and Conoco branded EV chargers deployed in Colorado in early 2024.
• NMCA (National Muscle Car Association)minorGTM or Marketing PartnerRed Line Oil (Phillips 66 Lubricants brand) serves as title sponsor of NMCA Muscle Car Nationals championship drag racing series.
• Airlines for AmericacoreStrategic or Co-development PartnerIndustry association partnership supporting accelerated SAF use in California, aiming to make 200 million gallons of SAF available by 2035.
• Johnnie Means Aquatics (JMA)minorStrategic or Co-development PartnerHouston-based swim safety organization receiving Phillips 66 funding. JMA provides learn-to-swim programs and hosts annual International Water Safety Day at Texas Southern University.

Scale indicators11 records

Recent moves8 records

Expansion highlights6 records

Direct peers

• PBF Energy: Independent U.S. refiner operating six crude-oil refineries across the country with logistics and marketing assets; directly comparable to Phillips 66 in refining capacity, regional U.S. footprint, and downstream exposure.
• World Kinect (World Fuel Services): Global aviation, marine, and land-fuel distributor with significant U.S. commercial-fuels and aviation-fuel marketing; directly comparable to Phillips 66 Aviation and commercial-fuels business lines.
• HF Sinclair (HollyFrontier): U.S. independent refiner and marketer operating multiple refineries, renewable-diesel facilities, and lubricants/specialties businesses; closely comparable to Phillips 66 across refining, renewable fuels, and specialty products.
• Valero Energy: One of the largest U.S. independent refiners operating 15+ petroleum refineries and a branded retail/wholesale fuel network; directly comparable to Phillips 66 across refining scale, U.S. downstream footprint, and renewable-diesel investments.
• CVR Energy: U.S. independent refiner and marketer with refineries in Kansas, Oklahoma, and Texas plus wholesale fuel and renewable-diesel operations; directly comparable as a U.S. refining-focused peer to Phillips 66.
• Marathon Petroleum: U.S. independent refiner with 13+ refineries and one of the largest fuel distribution networks in the country; competes head-to-head with Phillips 66 in refining, midstream, and branded fuels marketing.
• Delek US Holdings: U.S. downstream energy company with refineries in Texas, California, and Tennessee, plus retail and logistics operations; comparable mid-cap independent refiner with overlapping U.S. downstream footprint to Phillips 66.

Broad incumbents

• ExxonMobil: Global integrated energy major with significant U.S. refining capacity and branded fuel retail; broader portfolio and greater scale make it an incumbent competitor to Phillips 66 across refining, petrochemicals, and lubricants.
• BP: Global integrated energy major with U.S. refining, retail (ampm), and growing biofuels/SAF investments; broadly comparable to Phillips 66 in refining and downstream with larger-scale integrated positioning.
• Chevron Corporation: Global integrated energy major and 50/50 JV partner with Phillips 66 in CPChem; competes broadly across refining, petrochemicals, and downstream while operating as a much larger integrated player.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights6 records

Customer concentration

• YouTubeyoutube.com/@Phillips66Co
• Facebookfacebook.com/Phillips66Co
• LinkedInlinkedin.com/company/phillips66co
• Instagraminstagram.com/phillips66co

Compliance2 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles15 records

Subsidiaries4 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Phillips Petroleum Company