Houston Based Oil Refiner Phillips 66 Crush Earnings Generating $1.8 billion of Operating Cash Flow

Houston based oil refiner Phillips 66 on Friday reported better than expected second quarter earnings. PSX generated $1.8 billion of operating cash flow; $3.6 billion excluding working capital and repaid $1.5 billion of debt and returned $533 million to shareholders through dividends and share repurchases. The two largest American oil companies almost reported Friday. Energy giant ExxonMobil, the largest U.S. oil company, reported its second-quarter profit rose to $17.9 billion, its highest ever and nearly four times the same period … Continue reading “Houston Based Oil Refiner Phillips 66 Crush Earnings Generating $1.8 billion of Operating Cash Flow”

Phillips 66 Repay Debt, Repurchase Shares and Raise Dividend

Houston based oil refiner Phillips 66 on Friday reported better than expected first quarter earnings. PSX Generated $1.1 billion of operating cash flow and repaid $1.45 billion of debt in April. The refiner announced plan to restart share repurchases and increasing the dividend. $PSX is diversifed from refining in both its chemical and pipeline sectors. Phillips 66 Inc. (NYSE: $PSX) Earnings Beat Before Open Friday $1.32 beat $1.14 EPS and $36.72B Beat $29.79 forecast in revenue Earnings Phillips 66 (PSX) … Continue reading “Phillips 66 Repay Debt, Repurchase Shares and Raise Dividend”

US Natural Gas Exports to Mexico New Monthly Record in June 2021

Pipeline Gas exports to Mexico have been rising on rising Mexican demand with insufficient domestic production capability. Costa Azul LNG import terminal conversion has seen even more US gas imported by Mexico. On the demand side, in addition to domestic weather, liquefied natural gas (LNG) export levels hung near the robust 11 Bcf level, boosted by persistent demand from Asia and Europe, while While not as influential overall as LNG Pipeline exports to Mexico is hovering near 7 Bcf daily. … Continue reading “US Natural Gas Exports to Mexico New Monthly Record in June 2021”

Canadian Government Buys Trans Mountain Pipeline Assets for C$4.5 Billion

Kinder Morgan and Kinder Morgan Canada struck a deal Tuesday with the Canadian Government to sell the Trans Mountain Pipeline System and its expansion project for C$4.5 billion. The deal includes the pipeline and terminals and ensures the pipeline moves forward.

Refiner Phillips 66 Better Than Expected Earnings as Refining Margins Recover

Houston based oil refiner Phillips 66 $PSX on Friday reported better than expected 3Q17 earnings as refining and petrochemical revenues strengthened.  While Phillips 66 is diversifying from refining in both it’s chemical and pipeline sectors $224 million in earnings came from refining.