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This statistic highlights Phillips 66’s Refining Capacity by Region, split across Atlantic Basin/Europe, Central Corridor, Gulf Coast, and West Coast, reported on a quarterly basis from Q1 2016 onwards.
Headquartered in Houston, Texas, Phillips 66 was founded in 2011 in Delaware. It was formed in connection with and in anticipation of the restructuring of ConocoPhillips. ConocoPhillips has split its downstream business into an independent publicly-traded company called Phillips 66. Phillips 66 shares are traded on the New York Stock Exchange (NYSE) under the stock symbol “PSX”.
|Refining Capacity by Region||Q4 2020||Q3 2021||Q4 2021||Contribution in Q4 2021|
(all figures are in 000’s BPD, except percentages)
Phillips 66’s refining capacity stood at 2,152 BPD during the latest quarter of Q4 2021. On a year-on-year basis, the refining capacity witnessed a fall from 2,200 BPD in Q4 2020 to 2,152 BPD in Q4 2021, marking a decline of 2.18%. Even on a quarterly basis, the refining capacity of the company dropped by 2.89%, from 2,216 BPD in Q3 2021 to 2,151 BPD in Q4 2021.
Phillips 66’s refining capacity can be further bifurcated into the following regions:
The company’s refining capacity from this region decreased from 588 BPD in Q1 2016 to 537 BPD in Q4 2021, accounting for a decline of 8.67% in 6 years. The refining capacity remained the same from 537 BPD in Q4 2020 to 537 BPD in Q4 2021, showing 0% increase in a year. Quarterly also, there was no change in refining capacity from 537 BPD in Q3 2021 to 537 BPD in Q4 2021. This region accounts for 24.95% of the total refining capacity of the company in Q4 2021.
The Central Corridor region contributes 24.67% of the company’s total refining capacity in Q4 2021. The refining capacity grew from 493 BPD in Q1 2016 to 531 BPD in Q4 2021, marking an increase of 7.71% in a span of 6 years. Yearly, the refining capacity increased from 530 BPD in Q4 2020 to 531 BPD in Q4 2021, showing a very nominal rise of 0.19%. Comparing on a quarterly basis, there was no change in the refining capacity, amounting to 531 BPD in both the quarters of Q3 2021 and Q4 2021.
Phillips refining capacity from the gulf coast witnessed a fall from 743 BPD in Q1 2016 to 720 BPD in Q4 2021, leading to a decline of 3.1% in a span of 6 years. The refining capacity declined from 769 BPD in Q4 2020 to 784 BPD in Q4 2021, accounting for an incline of 1.95% on a yearly basis. However, comparing quarterly, the refining capacity decreased to 720 BPD in Q4 2021, from 784 BPD in Q3 2021, marking a fall of 8.16%. This region accounts for 33.46% of the total refining capacity in Q4 2021.
The West Coast region accounts for 16.91% of the total refining capacity of the company in Q4 2021. The refining capacity increased from 360 BPD in Q1 2016 to 364 BPD in Q4 2021, rising by 1.11% in a span of 6 years. However, comparing quarterly and yearly, the refining capacity remained the same in all the 3 quarters, amounting to 364 BPD in Q3 2020, Q2 2021, and Q3 2021, leading to no change.
Phillips 66 is a company with unique businesses in Refining, Midstream, Chemicals, and Marketing and Specialties, well-positioned to meet the global energy needs. The Company’s business is organized into four operating segments: Midstream, Chemicals, Refining, and Marketing and Specialties (M&S). The Midstream segment provides transportation, terminals, and processing services for crude oil and refined petroleum products, as well as natural gas, mostly in the United States. The Chemical segment consist of the company’s 50% equity investment in CPChem, which manufactures and markets petrochemicals and plastics worldwide. The Refining segment consists of refining crude oil and other commodities into petroleum products at 13 refineries across the United States and Europe. The Marketing and Specialties segment buys refined petroleum products for resale and sells them mostly in the United States and Europe.
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