Phillips 66 is a diversified energy manufacturing and logistics company. With a portfolio of Midstream, Chemicals, Refining, and Marketing and Specialties businesses, the company processes, transports, stores and markets fuels and products globally. Phillips 66 Partners, the company's master limited partnership, is an integral asset in the portfolio. Headquartered in Houston, the company has 14,000 employees committed to safety and operating excellence. Phillips 66 had $50 billion of assets as of June 30, 2015. Phillips 66 stock trades on the New York Stock Exchange under the ticker symbol PSX.
- Continued to be a top performer in safety compared to peers and integrated majors.
- Returned more than $3 billion of capital to our shareholders.
- Successfully launched Phillips 66 Partners LP, an MLP, to own, develop and acquire primarily fee-based transportation and midstream assets.
- Increased our quarterly dividend by 25 percent on two separate occasions.
- Achieved a total shareholder return of 48 percent.
- Repaid $1 billion of debt, reducing our total debt to about $6 billion and our debt-to-capital ratio to 22 percent.
- Invested $2 billion in growth capital.
2014 Key Initiatives
- Advance midstream infrastructure projects.
- Progress CPChem's U.S. Gulf Coast (USGC) Petrochemicals Project.
- Grow Phillips 66 Partners.
- Increase advantaged crude processing.
- Expand export capacity.
- Maintain cost discipline.
Grow Shareholder Distributions
- Annually grow dividend at double-digit rate through 2016.
- Continue share repurchase program.