Phillips 66

NYSE: PSX

Updated Mar 29, 2026

Profile compiled and reviewed by the Houston Oil Companies Data Team from public filings and company sources.

Downstream · Refining & Marketing

Phillips 66

PSX

Phillips 66 is a diversified energy manufacturing and logistics company with operations in refining, midstream, chemicals, and marketing.

Founded: 2012 (spun off from ConocoPhillips)
Employees: 14,000+
Revenue: $147 billion (2023)
HQ: Houston, TX

RefiningMidstreamChemicals (CPChem)NGL

Phillips 66 was created in 2012 as a spin-off of the downstream businesses of ConocoPhillips. The company is a diversified energy manufacturing and logistics company with a portfolio of midstream, chemicals, refining, and marketing and specialties businesses. It operates 12 refineries and is a leading producer of petrochemicals through its CPChem joint venture with Chevron.

Headquarters

Houston, TX

Founded

2012 (spun off from ConocoPhillips)

Employees

14,000+

Revenue

$147 billion (2023)

CEO

Mark Lashier

Website

phillips66.com

History of Phillips 66

Phillips 66 became an independent company on May 1, 2012, when ConocoPhillips separated its refining and marketing businesses. The name pays homage to Phillips Petroleum Company, which was founded in 1917. Since its spin-off, Phillips 66 has grown through strategic investments in midstream infrastructure and its DCP Midstream partnership.

Operations & Business Segments

Phillips 66 operates 12 refineries with a total crude oil processing capacity of approximately 1.8 million barrels per day. Its midstream segment includes extensive NGL and natural gas gathering, processing, and transportation assets. The chemicals segment operates through CPChem, a 50/50 joint venture with Chevron.

Headquarters Location

Houston, TX

Key Specialties & Capabilities

RefiningMidstreamChemicals (CPChem)NGLMarketing & SpecialtiesRenewable Fuels

Frequently Asked Questions About Phillips 66

What does Phillips 66 do?▾

Phillips 66 is a diversified energy company focused on refining crude oil, midstream logistics (pipelines and processing), chemicals manufacturing, and fuel marketing.

Is Phillips 66 related to ConocoPhillips?▾

Yes. Phillips 66 was spun off from ConocoPhillips in 2012 as a separate publicly traded company handling downstream operations.

How many refineries does Phillips 66 operate?▾

Phillips 66 operates 12 refineries with a combined crude oil processing capacity of approximately 1.8 million barrels per day.

What does Phillips 66 do in Houston?▾

Phillips 66 is a downstream company based in Houston, TX. Phillips 66 is a diversified energy manufacturing and logistics company with operations in refining, midstream, chemicals, and marketing.

Where is Phillips 66 headquartered?▾

Phillips 66 is headquartered in Houston, TX, founded in 2012 (spun off from ConocoPhillips). The company operates in Houston's energy corridor as part of the downstream sector.