10 years of providing energy, improving lives
Ten years ago today, Phillips 66 employees rang the opening bell at the New York Stock Exchange and began a new chapter.
In the decade since Phillips 66 spun off from ConocoPhillips and became a standalone company, it has written a number of new chapters in its history. The company has pursued ambitious infrastructure projects that helped cement the company’s leading positions in the crude and natural gas liquids value chains It has shared its success, returning $29 billion to shareholders. And it stayed steadfast and relentless in its vision of providing energy and improving lives.
“Whether you’ve been with us from the start or just joined, today is a moment to appreciate our remarkable journey — to honor all that we’ve achieved and, importantly, what it says about our future,” Chairman and CEO Greg Garland said. “We have done many amazing things together and no doubt will do many more in the years ahead.”
Over the course of the last decade, Phillips 66 has weathered hurricanes, a pandemic and a cyclical industry, all while pushing forward into the energy transition. Its employees enhanced the company’s high-performing culture by embracing business transformation and inclusion and diversity, and practicing behaviors that challenge the company to become even better.
There has been much change, but also much that has stayed the same. From the beginning, Phillips 66’s vision was to provide energy and improve lives, grounded in core values of safety, honor and commitment. Those still guide employees today. And the business strategy articulated 10 years ago — growth, returns and distributions supported by operating excellence and a high-performing organization — continues to deliver long-term value for shareholders, employees and communities.
“Phillips 66’s story is one of growth, investment and opportunity,” Garland said. “We’re proud of how far we’ve come in 10 years, and how we’re creating what’s next. The next decade will bring change, challenge and opportunity. We’ve proven that we’re up to it.”