Phillips 66 faces risks from fluctuating commodity prices (NGL, crude oil, natural gas), government policies, pipeline capacity constraints, OPEC actions, integration challenges, unexpected costs, technological difficulties, transportation issues, producer drilling plans, permit delays, business transformation success, climate change regulations, economic and political instability, litigation (Propel Fuels, environmental), environmental remediation costs, and customer creditworthiness. The company's investments in Dakota Access and OnCue also present potential losses.

Read More

Phillips 66 anticipates $13-$15 billion in share repurchases and dividends by year-end 2024. The company has achieved $1.4 billion in business transformation savings. Acquisitions (Pinnacle Midstream) and asset dispositions (Coop Mineraloel AG, North Dakota assets) are expected to generate further revenue and gains. Higher equity earnings from CPChem and lower income tax expense are also positive factors.

Read More