Phillips 66 has refining and marketing operations in all five U.S.Petroleum Administration for Defense Districts (PADDs). Each PADD contains assets integrated by location, transportation, marketing and commercial activities.
Phillips 66 also owns or has an interest in three refineries in Europe and one refinery in Asia Pacific. The company also has marketing operations throughout Europe.
- Ongoing focus on safety, with multiple facilities earning external recognition for superior safety performance during the year.
- Significant progress on optimizing and high-grading R&M portfolio, with the disposition of several nonstrategic assets.
- Strong U.S. Midcontinent refining margins, capturing opportunities presented by the market.
- Continuing improvements in optimization and fourth consecutive year of clean product yield increase.
- Completion of coker and refinery expansion (CORE) project at the Wood River Refinery, delivering a 5 percent increase in clean product yield.
- Enhanced global commercial capabilities and market presence in several regions.
- Enhanced global refinery utilization rates reaching 92 percent in 2011, well above industry average.
- Continuing advances in environmental performance and commitment to the communities in which Phillips 66 operates.