Phillips 66 (PSX) closed the most recent trading day at $94.69, moving -0.9% from the previous trading session.
In the oldest refining town in the American West, Phillips 66 is promising a greener future as it moves to halt crude-oil processing and build a massive renewable diesel plant, leading a global trend. The company’s initial claim that it would slash greenhouse gasses by half doesn’t match the project’s environmental impact report, published by county regulators, which shows a 1% reduction, according to a Reuters calculation of emissions data in the report. These dynamics and other variables raise questions about Phillips 66’s marketing of renewable diesel as a green fuel and make it impossible to tell whether and how much the refinery overhaul will reduce community pollution, three independent environmental experts told Reuters.
HOUSTON, March 20, 2023--Phillips 66 management will host a webcast at noon ET on Wednesday, May 3, 2023, to discuss the company’s first-quarter 2023 financial results.