Phillips 66 Partners
Phillips 66 Partners was a publicly traded midstream MLP (NYSE: PSXP) that operated pipeline transportation, storage, and terminaling assets for crude oil and refined products. It was acquired by Phillips 66 on March 9, 2022, becoming a wholly-owned subsidiary of the parent integrated energy company.
- Company typePublic
- Founded1927
- HeadquartersHouston, United States
- Headcount5,001–10,000
- GTM typeB2B
- OfferingServices
What Phillips 66 Partners does
Phillips 66 Partners, L.P. was a publicly traded master limited partnership listed on the New York Stock Exchange under ticker PSXP that operated as a midstream energy infrastructure company. The entity owned and operated pipeline transportation, storage, and terminaling assets for crude oil and refined petroleum products, serving enterprise customers within the U.S. energy value chain. Prior to acquisition, it functioned as a vehicle for owning, operating, acquiring, and developing midstream infrastructure integrated with its parent Phillips 66's refining, marketing, commercial, and renewable fuels segments. The product portfolio seen at the parent level spans refining, midstream, marketing, commercial, renewable fuels, aviation, asphalt, crude oil, fuels and lubricants, and specialty petroleum products, supported by services such as safety data sheets, interest owner administration, AnalysisPlus analytics, pipeline safety programs, and midstream tariff information.
On March 9, 2022, Phillips 66 closed on its previously announced acquisition of Phillips 66 Partners. Upon closing, Phillips 66 Partners became a wholly-owned subsidiary of Phillips 66 and ceased to operate as an independent, publicly traded entity. The company is no longer independently operated; historical SEC filings remain available under CIK 1572910, and a K-1 tax package support service continues to be offered to former unit holders via a third-party tax package support portal. The business model as a midstream MLP relied on fee-based revenues from pipeline tariffs, storage, and terminaling services, with the acquisition eliminating the standalone MLP structure in favor of full integration into the parent's vertically integrated energy platform.
Phillips 66 Partners firmographics
Firmographics- Name
- Phillips 66 Partners
- Legal name
- Phillips 66 Partners, L.P.
- Website
- https://phillips66partners.com
- Company type
- Public
- Founded year
- 1927
- Operating status
- Acquired
- Headcount range
- 5,001–10,000 employees
- Short description
- Phillips 66 Partners was a publicly traded midstream MLP (NYSE: PSXP) that operated pipeline transportation, storage, and terminaling assets for crude oil and refined products. It was acquired by Phillips 66 on March 9, 2022, becoming a wholly-owned subsidiary of the parent integrated energy company.
- Ownership category
- akta.pro rank
Phillips 66 Partners industry classification
Industry- Product category
- Midstream Energy Infrastructure
- NAICS
- Pipeline Transportation of Refined Petroleum Products (486910), Petroleum Bulk Stations and Terminals (424710)
- SIC
- Pipe Lines (No Natural Gas) (4610), Wholesale-Petroleum Bulk Stations & Terminals (5171)
- akta.pro primary industry
- Refined Products Terminals (Gasoline, Diesel, Jet, Heating Oil) (EUALAEAB)
- akta.pro secondary industries
- Blending, Additization & Terminal Operations (In-Terminal Blending, Dyeing, Bio-blending) (EUALAEAJ), NGL/LPG Pipeline Storage & Terminaling (Caverns, Bullet Tanks, Tank Farms) (TLAGAEAM)
Keywords
Where Phillips 66 Partners is headquartered
LocationHeadquarters
- HQ city
- Houston
- HQ country
- United States
- HQ region
- North America
Markets served
Phillips 66 Partners business model
Business model- GTM type
- B2B
- Offering type
- Services
- Cost components
- Operations, Infrastructure, Personnel, Supply Chain, Technology or R&D
Distribution channels1 record
Marketing channels4 records
Phillips 66 Partners product offering
Product offeringCore offering
Phillips 66 Partners was an energy infrastructure master limited partnership (MLP) that owned, operated, developed, and acquired midstream energy assets, including refined petroleum product pipelines, crude oil and natural gas liquids pipelines, terminals, storage facilities, processing plants, fractionation facilities, and marine terminals. The partnership earned revenue by charging tariffs and fees for transporting crude oil, natural gas liquids, and refined petroleum products on behalf of refiners, marketers, and producers under long-term contracts.
Product overview
Phillips 66 Partners was an energy infrastructure master limited partnership (MLP) that operated as a midstream and downstream energy company. The company was organized as a platform-plus-modules architecture consisting of: (1) core midstream operations including pipeline transportation, storage, and terminaling services; (2) downstream operations spanning refining, marketing, commercial trading, aviation, asphalt, crude oil, fuels and lubricants, and specialties; (3) renewable fuels production; and (4) supporting services including safety data sheets, interest owner services, and AnalysisPlus analytics. Phillips 66 Partners was acquired by Phillips 66 on March 9, 2022, and became a wholly-owned subsidiary. The company operated under several brands including Phillips 66, Conoco, 76, and Jet.
Differentiator
Problem solved
Functional benefit
Products and services
- Refined Petroleum Product Pipeline Transportation
Companies that use Phillips 66 Partners
Customer profileIdeal customer profiles1 record
Phillips 66 Partners technology and API
TechnologyTechnology focussed No
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Phillips 66 Partners partnerships and signals
Strategic signalPartnerships
One partnership is on record.
- Phillips 66corePhillips 66 Partners was acquired by Phillips 66 on March 9, 2022, becoming a wholly-owned subsidiary of Phillips 66. The transaction was previously announced and closed on the specified date. Phillips 66 Partners operated as a publicly traded master limited partnership (MLP) before the acquisition.
Scale indicators1 record
Recent moves5 records
Expansion highlights2 records
Phillips 66 Partners competitors and assessment
Company assessmentDirect peers
- Enterprise Products Partners: Enterprise Products Partners is one of the largest publicly traded midstream MLPs operating crude oil, refined products, NGL, and natural gas pipelines, storage, and terminals. Direct comparable to Phillips 66 Partners' pipeline and terminaling operations serving integrated energy customers.
- Plains All American Pipeline: Plains All American Pipeline operates crude oil and natural gas liquids pipelines, storage, and terminaling assets throughout North America. Highly comparable midstream MLP-style asset base to Phillips 66 Partners.
- Magellan Midstream Partners: Magellan Midstream Partners operates refined petroleum products pipelines and terminals, with a strong focus on gasoline, diesel, and jet fuel logistics. Closely aligned refined products pipeline/terminal focus to Phillips 66 Partners.
- Valero Energy Partners (now consolidated into Valero): Valero Energy Partners was a midstream MLP formed by Valero Energy to own/operate crude, refined products, and NGL pipelines and terminals serving Valero refineries — directly analogous to Phillips 66 Partners' relationship with Phillips 66 before the 2022 acquisition.
- Energy Transfer: Energy Transfer operates extensive midstream infrastructure including crude, refined products, and NGL pipelines plus terminals across the U.S. Closely comparable business mix to Phillips 66 Partners' pipeline transportation and terminaling activities.
- ONEOK: ONEOK operates an integrated midstream network with strong NGL and natural gas gathering, processing, and pipeline assets. Comparable midstream MLP-to-corp transition profile to Phillips 66 Partners, with overlap in NGL/petroleum logistics.
Broad incumbents
- Williams Companies: Williams Companies operates large-scale natural gas and NGL/gas processing infrastructure across the U.S. While more gas-focused, Williams competes for midstream capital and customers and overlaps with parts of Phillips 66 Partners' midstream footprint.
- Kinder Morgan: Kinder Morgan is one of the largest North American energy infrastructure companies, operating pipelines and terminals for natural gas, refined products, crude oil, and CO2. Larger and more diversified incumbent operating across the same midstream categories as Phillips 66 Partners.
- Marathon Petroleum: Marathon Petroleum is a major integrated downstream/refining company with internal midstream logistics and wholesale operations. Comparable as an integrated downstream peer that owns similar refining-to-terminal infrastructure.
Regional players
- Buckeye Partners: Buckeye Partners operates refined petroleum products and NGL pipelines and terminals primarily in the Northeastern U.S. and Caribbean. Comparable midstream asset focus but smaller scale and more regional footprint than Phillips 66 Partners.
Market position
Strengths4 records
Weaknesses4 records
Competitive moat4 records
Key risks5 records
Key highlights5 records
Customer concentration
Phillips 66 Partners social profiles
Digital presencePhillips 66 Partners financial estimates
Financial estimateRevenue estimate
Valuation estimate
Phillips 66 Partners leadership team
Management profileNumber of profiles
Phillips 66 Partners funding detail
Funding detailFunding overview
Funding rounds1 record
Investors3 records
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Phillips 66 Partners M&A and investment
M&A and investmentM&A1 record
Investments1 record
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Phillips 66 Partners
What does Phillips 66 Partners do?
Phillips 66 Partners was an energy infrastructure master limited partnership (MLP) that owned, operated, developed, and acquired midstream energy assets, including refined petroleum product pipelines, crude oil and natural gas liquids pipelines, terminals, storage facilities, processing plants, fractionation facilities, and marine terminals. The partnership earned revenue by charging tariffs and fees for transporting crude oil, natural gas liquids, and refined petroleum products on behalf of refiners, marketers, and producers under long-term contracts.
Is Phillips 66 Partners a public or private company?
Phillips 66 Partners is a public company. It is classified as corporate owned and is currently acquired.
When was Phillips 66 Partners founded?
Phillips 66 Partners was founded in 1927. It employs 5,001 to 10,000 people.
Where is Phillips 66 Partners based?
Phillips 66 Partners is headquartered in Houston, United States, in the North America region.
Who are Phillips 66 Partners's main competitors?
Direct peers on record are Enterprise Products Partners, Plains All American Pipeline, Magellan Midstream Partners, Valero Energy Partners (now consolidated into Valero), Energy Transfer and ONEOK. Broad incumbents are Williams Companies, Kinder Morgan and Marathon Petroleum. Buckeye Partners is listed as a regional player.
Does Phillips 66 Partners have an API?
No public API is recorded for Phillips 66 Partners.
What industry is Phillips 66 Partners in?
Phillips 66 Partners's product category is Midstream Energy Infrastructure. Its primary akta.pro industry code is EUALAEAB, Refined Products Terminals (Gasoline, Diesel, Jet, Heating Oil), with a secondary code of EUALAEAJ, Blending, Additization & Terminal Operations (In-Terminal Blending, Dyeing, Bio-blending). Its NAICS code is 486910 and its SIC code is 4610.