SEC 8-K$PSXCorporate action
US' Phillips 66, Kinder Morgan, HF Sinclair back $5 bn pipeline
Phillips 66, Kinder Morgan, and HF Sinclair are investing $5 billion in the Western Gateway pipeline project, a 1,300-mile refined products pipeline system. The project aims to enhance fuel supply reliability and cost-effectiveness in the Western U.S., with completion targeted for 2029. Each company will contribute cash and assets, with Phillips 66 providing $2.5 billion, HF Sinclair $750 million, and Kinder Morgan $250 million. The project is expected to generate attractive returns, supported b
HF Sinclair posts a profit and closes its only Canadian lubricant (base oil) refinery. Not because of no profits, but it is not worth doing business with Net Zero Leadership.
HF Sinclair (NYSE: DINO) reported Q2 2026 net income of $892M, up from prior-year levels, and announced it will close its Mississauga, Ontario base oil refinery. The company plans to spin off its Lubricants & Specialties segment into a separate publicly traded company. The decision is driven by a strategic shift to a capital-light model, despite the segment's strong profitability. The refinery's closure is expected to be completed by 2027, with supply shifting to long-term agreements with Chevro
Western Gateway is a $5B Bet on Tighter California Products Market
Phillips 66 (PSX), Kinder Morgan (KMI), and HF Sinclair (DINO) finalized a $5B investment in the Western Gateway Pipeline, a 1,300-mile project to transport 230 Mb/d of refined products to California, Arizona, and Nevada. The project aims to address California's supply-demand gap, exacerbated by recent refinery closures. East Daley Analytics estimates the project's first full year of gross EBITDA at $564MM, with a build multiple of 8.8x. The partners' stakes are 49.9% for PSX, 35.1% for KMI, and
5 Energy Stocks Cashing In On The New Energy Crunch
U.S. refiners like Marathon Petroleum (MPC), Valero Energy (VLO), and Phillips 66 (PSX) are benefiting from global fuel shortages, with record refining margins and strong earnings. Marathon reported $52.34B revenue, while Phillips 66 and Chevron (CVX) also saw significant gains. Energy sector earnings grew 147% YoY, with refiners leading the growth. Shares of these companies have surged, outpacing the broader energy sector.
Phillips 66, Kinder Morgan, HF Sinclair proceed with pipeline project from Borger to California
Phillips 66, Kinder Morgan (KMI) and HF Sinclair (DINO) will proceed with the proposed $5 billion Western Gateway Pipeline system, a 1,300-mile refined products pipeline with 230,000 bpd design capacity. Phillips 66 will reverse its Gold Pipeline and KMI will contribute existing lines valued about $1.5 billion. Phillips 66 plans nearly $2.5 billion cash, KMI $250 million, DINO $750 million, targeting 2029 completion.
Phillips 66 and Kinder Morgan greenlight $5B Texas-Arizona pipeline
Phillips 66 and Kinder Morgan reached a final investment decision for the $5 billion Western Gateway Pipeline to ship gasoline and other refined products from Texas to Arizona and California. Phillips 66 will own 49.9%, Kinder Morgan 35.1%, and HF Sinclair 15% via the JV. The project links multiple refineries to terminals in El Paso, Tucson/Phoenix, Colton and Las Vegas.
