Phillips 66 recently participated in the J.P. Morgan 2024 Energy, Power, and Renewables Conference, where Chairman and CEO Mark Lashier discussed the company’s strategy and future outlook. Phillips 66 is a leading diversified downstream energy provider with a portfolio of businesses that position them for value creation across economic cycles. They expect to grow their earnings by $4 billion to $14 billion by 2025, with a focus on midstream, petrochemicals, marketing, and specialties.
Lashier highlighted the company’s efforts in refining reliability, market capture, and cost savings, as well as the startup of the Rodeo Renewed facility and the performance of their chemicals and marketing and specialties businesses. He also addressed questions about leverage, asset sales, and the broader macro environment in refining markets.
The company remains committed to optimizing its business mix, pursuing growth opportunities, and returning value to shareholders. While they are comfortable with their current leverage levels, they are open to asset sales to further strengthen their balance sheet. Overall, Phillips 66 continues to focus on sustainable growth and value creation in a challenging market environment.