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Phillips 66 Reports Q4 2019 Results
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Phillips 66 reported its Q4 2019 results.
Highlights:Fourth Quarter
Achieved record earnings of $255 million and adjusted EBITDA of $345 million Increased quarterly distribution to $0.875 per common unit Commenced initial operations on the Gray Oak PipelineFull-Year 2019
Reported record earnings of $923 million and adjusted EBITDA of $1.3 billion Completed the Bayou Bridge pipeline extension, the Lake Charles isomerization unit and the Lake Charles pipeline projects Eliminated general partner’s incentive distribution rights Increased quarterly distribution 11% year over year Strategic UpdatePhillips 66 Partners commenced initial operations on the 900,000 barrels per day (BPD) Gray Oak Pipeline, which is expected to reach full service in the second quarter of 2020. The pipeline will…
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