BUZZ-Phillips 66 to sell stake in Texas pipeline for $865 mln, shares down

Reuters

2024-12-16

BUZZ-<a href="https://laohu8.com/S/PSX">Phillips 66</a> to sell stake in Texas pipeline for $865 mln, shares down

** Shares of U.S. refiner Phillips 66 PSX.N fall over 3% to $118.84

** Company to sell its 25% stake in the Gulf Coast Express pipeline in Texas to an affiliate of ArcLight Capital Partners for $865 million

** PSX also forecasts lower capital expenditure of $2.1 bln in 2025, compared to $2.2 bln it projected in 2024

** Company expects refining expenditure of $822 mln in 2025, compared with $1.07 bln it expects to spend for the unit in 2024

** Shares further pressured by declining crude prices O/R

** Including session's moves, stock is down about 11% YTD

(Reporting by Vallari Srivastava in Bengaluru)

((Srivastava.Vallari@thomsonreuters.com;))

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<span>O/R</span></p><p>** Including session's moves, stock is down about 11% YTD</p><p> (Reporting by Vallari Srivastava in Bengaluru)</p><p> ((Srivastava.Vallari@thomsonreuters.com;))</p></body></html>","source":null,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>BUZZ-Phillips 66 to sell stake in Texas pipeline for $865 mln, shares down</title>\n<style 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xmlns=\"http://www.w3.org/1999/xhtml\"><head><title>BUZZ-<a href=\"https://laohu8.com/S/PSX\">Phillips 66</a> to sell stake in Texas pipeline for $865 mln, shares down</title></head><body><p>** Shares of U.S. refiner Phillips 66 <span>PSX.N</span> fall over 3% to $118.84</p><p>** Company to sell its 25% stake in the Gulf Coast Express pipeline in Texas to an affiliate of ArcLight Capital Partners for $865 million</p><p>** PSX also forecasts lower capital expenditure of $2.1 bln in 2025, compared to $2.2 bln it projected in 2024</p><p>** Company expects refining expenditure of $822 mln in 2025, compared with $1.07 bln it expects to spend for the unit in 2024</p><p>** Shares further pressured by declining crude prices <span>O/R</span></p><p>** Including session's moves, stock is down about 11% YTD</p><p> (Reporting by Vallari Srivastava in Bengaluru)</p><p> ((Srivastava.Vallari@thomsonreuters.com;))</p></body></html>\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"BK4138","symbol_name":"石油與天然氣的煉製和營銷","start_time":0,"source_url":"https://api.refinitiv.com/data/news/v1/stories/urn:newsml:reuters.com:20241216:nL4N3NH12R:1","article_id":"2491692030","we_media_id":"1032215980","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2491692030","pubTimestamp":1734360652,"columns":[],"sourceInfo":null,"weMediaInfo":{"media_name":"Reuters","introduction":"Reuters.com brings you the latest news from around the world, covering breaking news in markets, business, politics, entertainment and technology","home_visible":1,"id":"1032215980","head_image":"https://community-static.tradeup.com/news/4567337cbdf294b657b1fa87c5488b48"},"summary":"BUZZ-Phillips 66 to sell stake in Texas pipeline for $865 mln, shares down** Shares of U.S. refiner Phillips 66 PSX.N fall over 3% to $118.84** 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