Integrated downstream energy company
Phillips 66
Phillips 66 refines crude oil and feedstocks into petroleum products and renewable fuels, while also earning revenue from NGL transportation, fractionation and marketing services. It spends on crude and product purchases, renewable feedstocks and pipeline transportation, and expands its supply chain through midstream acquisitions.
PSX Updated Sep 11, 2026 2 AI consumers· 1 recurring
Per the valuechain.wiki graph, Phillips 66 is directly linked to 2 companies (1 supply, 1 revenue relationships) and reaches 2 companies within two hops; the links are backed by 10 dated sources, 2 of them primary filings (as of 2026-09-11).
Financials & Segments
- Total revenue · $132.376 billion (FY2025 sales and other operating revenues, Phillips 66 2025 Form 10-K)
- Segments · Midstream · Chemicals · Refining · Marketing and Specialties · Renewable Fuels
Revenue from
- United Airlines Holdings High confidence· contract volume 11,000,000 gallons of SAF · agreement disclosed in 2026 · Sustainable aviation fuel volume under the United Airlines supply agreement
Phillips 66 supplies sustainable aviation fuel to United Airlines. The 2024 agreement covered Chicago and Los Angeles, and a deal disclosed in 2026 covers 11 million gallons.Confirms EN Phillips 66 Published Dec 5, 2024: Phillips 66, United Airlines sign SAF supply agreement - British Airways High confidence
Phillips 66 Limited signed a multi-year agreement to supply British Airways with sustainable aviation fuel produced at the Humber Refinery.Confirms EN Phillips 66 Published Dec 1, 2021: British Airways, Phillips 66 Limited sign sustainable aviation fuel supply agreement
Pays to
- Kinder Morgan High confidence· transportation contract demand 35,000 Dth/day · 2024-05-01 to 2034-04-30 · Daily transportation contract demand under the El Paso Natural Gas firm service agreement
Phillips 66 Energy Trading signed a 10-year firm natural gas transportation agreement with Kinder Morgan's El Paso Natural Gas.Confirms EN Kinder Morgan Published Mar 26, 2024: FT-1 Transportation Service Agreement between El Paso Natural Gas and Phillips 66 Energy Trading - Shell Rock Soy Processing High confidence· output purchase share 100 percent · supply agreement announced 2021-04-20 · Share of Shell Rock soybean oil output committed for purchase by Phillips 66
Phillips 66 agreed to purchase all soybean oil output from the Shell Rock Soy Processing plant as renewable-fuels feedstock.Confirms EN Phillips 66 Published Apr 20, 2021: Phillips 66 secures renewable fuels feedstock supply through investment in soybean processing plantMentions EN S&P Global Commodity Insights Published Apr 20, 2021: Phillips 66 snaps up stake in soybean processing plant to supply Rodeo Renewed
Investors
- Elliott Investment Management High confidence· equity stake value $2.5B · stake disclosed 2025-02-11 · Lower bound of Elliott's disclosed investment in Phillips 66
Activist investor Elliott Investment Management built a stake worth more than $2.5 billion in Phillips 66 and nominated directors.Confirms KO Investing.com Korea Published Mar 5, 2025: Elliott nominates seven candidates to the Phillips 66 boardConfirms EN Associated Press Published Feb 11, 2025: Activist investor Elliott builds more than $2.5 billion stake in Phillips 66
Investments
- EPIC NGL High confidence· acquisition consideration $2.2B · acquisition completed in Q2 2025 · Coastal Bend acquisition consideration, net of cash acquired
Phillips 66 acquired EPIC's Coastal Bend assets, including a long-haul NGL pipeline and fractionators near Corpus Christi, expanding its Permian-to-Gulf-Coast midstream network.
Value-chain ripple (2 tiers)
Following node-to-node links up to 2 tiers; each firm is shown once, at its nearest tier.
| Company | Chain | '21 | '22 | '23 | '24 | '25 | YTD |
|---|---|---|---|---|---|---|---|
| United Airlines Holdings | lead1 | +1.2 | -13.9 | +9.4 | +135.3 | +15.2 | -0.4 |
| Phillips 66 | node | +8.5 | +49.6 | +33.1 | -11.6 | +17.5 | +101.8 |
| Kinder Morgan, Inc. | benef1 | +23.8 | +21.2 | +4.1 | +64.4 | +4.8 | +17.5 |
YTD as of 2026-09-04 · source: Yahoo Finance
Phillips 66 operates across Integrated downstream energy company. It is up +101.8% in 2026. Its demand and supply links are known, but listed-counterparty return data is limited. It spends on crude and product purchases, renewable feedstocks and pipeline transportation, and expands its supply chain through midstream acquisitions.
Analysis generated from returns as of 2026-09-04