Another US oil refinery to vanish with Lyondell Houston plant closing [Yahoo! Finance]
Phillips 66 (PSX)
Last phillips 66 earnings: 5/1 07:00 am
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Source: Yahoo! Finance
its 263,776 barrel-per-day (bpd) Houston oil refinery in the first quarter of 2025. The planned closing marks the latest in a wave of U.S. refinery closures as motor fuel demand is expected to peak this decade and decline under pressure from renewable fuels and electric vehicles. In January, one of the facility's crude distillation units (CDU) and coker production train will shut, Lyondell refining chief Kim Foley told analysts on a call to discuss third-quarter results. In February, the second CDU-coker production train, which supplies the gasoline-producing fluidic catalytic cracker (FCC) and ancillary units, will shut, ending motor fuel production, Foley said. For the fourth quarter of this year, Lyondell plans to run the refinery at 90% of its capacity. Lyondell originally planned to shutter the Houston refinery in 2023, but extended its life due to strong fuel margins. Last month, rival U.S. refiners Phillips 66 and Valero Energy announced plans to close one California
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PSX
Earnings
- 10/29/24 - Miss
PSX
Sec Filings
- 11/4/24 - Form 4
- 10/29/24 - Form 10-Q
- 10/29/24 - Form 8-K
- PSX's page on the SEC website