Phillips 66 is a diversified energy company with operations in Midstream, Chemicals, Refining, and Marketing and Specialties. The company's core business model involves the transportation, storage, processing, and marketing of crude oil, refined petroleum products, and natural gas liquids (NGL). Phillips 66 also manufactures and markets petrochemicals and plastics. The company has a significant presence in the United States and Europe, with a focus on integrated operations and a diversified portfolio of assets. Phillips 66 competes with other major integrated oil and gas companies, as well as independent refiners and chemical manufacturers.

• Employees: 14,000 (as of December 31, 2023)
• Geographic Footprint: Primarily in the United States and Europe
• Headquarters: Houston, Texas
• Founded: 2011
• Number of locations/facilities: Includes 12 refineries, 36 gathering and processing plants, and numerous terminals and pipelines
• Revenue: $147.4 billion (FY2023)
• Market Capitalization: $48.9 billion (as of January 31, 2024)
• Key Subsidiaries/Brands: Chevron Phillips Chemical Company LLC (CPChem), Phillips 66, Conoco, and 76 brands

• CEO: Mark E. Lashier
• CFO: Kevin J. Mitchell
• Executive Vice President, Emerging Energy and Sustainability: Zhanna Golodryga
• Executive Vice President, Refining: Richard G. Harbison
• Executive Vice President, Marketing and Commercial: Brian M. Mandell
• Executive Vice President, Midstream and Chemicals: Timothy D. Roberts
• Executive Vice President, Government Affairs, General Counsel and Corporate Secretary: Vanessa L. Allen Sutherland
• Vice President and Controller: J. Scott Pruitt

Mark E. Lashier has been CEO since July 2022. Kevin J. Mitchell has been CFO since January 2016. Other executives have varying tenures in their current roles.

• Annual Revenue: $147.4 billion (FY2023)
• Net Income: $7.0 billion (FY2023)
• Market Cap: $48.9 billion (as of January 31, 2024)
• Total Assets: $75.5 billion (as of December 31, 2023)
• Employees: 14,000 (as of December 31, 2023)
• Key Financial Highlights: Decreased revenue and net income compared to 2022 primarily due to lower realized refining margins and decreased NGL and natural gas prices.

Phillips 66 offers a diverse range of products and services across its segments:

• Refined Petroleum Products: Gasoline, distillates, aviation fuels, and renewable fuels.
• Petrochemicals and Plastics: Ethylene, polyethylene, aromatics, styrenics, and specialty chemicals.
• NGL and Natural Gas: Transportation, storage, fractionation, gathering, processing, and marketing services.
• Specialty Products: Base oils and lubricants marketed under the Phillips 66, Kendall, and Red Line brands.

Phillips 66 operates through four main segments:

• Midstream: Provides transportation, terminaling, and processing services for crude oil, refined products, natural gas, and NGL.
• Chemicals: Includes the company's 50% equity investment in CPChem, which manufactures and markets petrochemicals and plastics.
• Refining: Refines crude oil and other feedstocks into petroleum products and renewable fuels.
• Marketing and Specialties: Purchases for resale and markets refined petroleum products and renewable fuels, and manufactures and markets base oils and lubricants.

Revenue breakdown by segment is not explicitly provided in the filing.

Phillips 66's strategic priorities include:

• Delivering shareholder returns through dividends and share repurchases.
• Improving refining performance by optimizing utilization rates and product yield.
• Capturing value from wellhead-to-market in the NGL value chain.
• Executing a business transformation to reduce costs.
• Maintaining financial strength and flexibility.
• Driving disciplined growth and returns.

The company is also focused on advancing its participation in the energy transition by developing renewable fuels and other lower-carbon opportunities.

Phillips 66 operates in the highly competitive energy industry, encompassing refining, chemicals, and midstream sectors. Key market trends affecting the business include:

• Volatile commodity prices and margins.
• Changes in global supply and demand for crude oil, natural gas, and refined products.
• Increasing focus on renewable fuels and the energy transition.
• Evolving environmental regulations and policies.

Major competitors include other integrated oil and gas companies, independent refiners, and chemical manufacturers. Specific market share information is not explicitly provided in the filing.

• Market Risks: Volatility in commodity prices and margins, changes in demand for refined products, and competition from other energy providers.
• Operational Risks: Planned and unplanned downtime, business interruptions, and operational hazards at its facilities and those of its joint ventures.
• Financial Risks: Reliance on third-party transportation, potential inability to obtain financing on acceptable terms, and risks associated with joint ventures.
• Regulatory Risks: Compliance with environmental laws and regulations, and potential impacts from climate change legislation.
• Cybersecurity Risks: Potential cybersecurity incidents and data privacy breaches that could compromise information and expose the company to liability.