Lashier: ‘We’re out there to compete’ every day

As president and CEO of a company that aims to be the leading integrated downstream energy provider, Mark Lashier thrives on competition.

“We’re out there to compete against great companies, and that competition makes us all better,” Lashier told the Houston Business Journal in an exclusive interview.

“People want to know what they can do to save the world,” said Lashier, “and we say, get into the energy business, because the world needs energy, and we have to get better at providing it every day.”

In the interview, published as a cover story and as a podcast on Texas Business Minds, Lashier covered a range of topics he believes will make Phillips 66 more competitive, including the energy transition, petrochemicals, the sale of non-core assets and shareholder returns.

“We’re not ashamed of the fact that we have to deliver returns to shareholders,” he said.

Lashier said the energy transition is fundamental to Phillips 66’s strategy, citing Rodeo Renewed, one of the company’s renewable fuels facilities and one of the world’s largest. The company’s focus on renewables underscores its commitment to a lower-carbon future, he said, as well as its focused approach.

“Everybody benefits when the people who know how to do something really well focus on it and do it really well,” said Lashier.

Lashier said Phillips 66 expects to see growth in petrochemicals and natural gas liquids, and that Chevron Phillips Chemical Co., or CPChem, a joint venture between Phillips 66 and Chevron, is well positioned to meet growing demand.

Elaborating on Phillips 66’s plan to monetize over $3 billion of non-core assets, Lashier said company has a very clear line of sight on what it intends to do so it can focus on key strategic elements. 

“All of our assets have value,” he said, “If those assets have more value to you than they do to me, we’ve got something to talk about.”  

The interview also included several personal facts about the Phillips 66 leader. One fun fact he mentioned: “I make the best oatmeal on the planet — just ask my grandkids.”