Phillips 66 will focus on additional shale-oil processing, increased exports of refined products, and chemical and midstream spending, said Greg Garland, the designated chairman and CEO of the new refining company that will be spun off from ConocoPhillips. "Our plan is to shift more capital toward these higher returning businesses, so we're not your normal refining company," Garland said. The company could also try to sell more of its refineries, executives said.

Full Story:

Related Summaries