Phillips 66 to Convert Alliance Refinery to Terminal Facility
November 08 2021 - 4:35PM
Business Wire
Phillips 66 (NYSE: PSX) announced today it plans to convert its
Alliance Refinery in Belle Chasse, La., to a terminal facility. The
conversion is expected to take place in 2022.
“We made this decision after exploring several options and
considering the investment needed to repair the refinery following
Hurricane Ida,” said Greg Garland, Chairman and CEO of Phillips 66.
“Alliance’s existing infrastructure and Gulf Coast location make it
an attractive midstream asset. Phillips 66 will continue to be a
major refiner with 12 facilities in the U.S. and Europe.”
The Alliance Refinery employs approximately 500 employees and
400 contractors.
“Our decision was a difficult one, and we understand it has a
profound impact on our employees, contractors and the broader Belle
Chasse community,” Garland said. “We will work to help them through
this transition and support them as Alliance takes on a new role in
our portfolio.”
About Phillips 66 Phillips 66 is a diversified energy
manufacturing and logistics company. With a portfolio of Midstream,
Chemicals, Refining, and Marketing and Specialties businesses, the
company processes, transports, stores and markets fuels and
products globally. Headquartered in Houston, the company has 14,100
employees committed to safety and operating excellence. Phillips 66
had $56 billion of assets as of Sept. 30, 2021. For more
information, visit www.phillips66.com or follow us on Twitter
@Phillips66Co.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20211108006014/en/
Jeff Dietert (investors) 832-765-2297 jeff.dietert@p66.com
Shannon Holy (investors) 832-765-2297 shannon.m.holy@p66.com
Thaddeus Herrick (media) 855-841-2368
thaddeus.f.herrick@p66.com
Phillips 66 (NYSE:PSX)
Historical Stock Chart
From Aug 2024 to Sep 2024
Phillips 66 (NYSE:PSX)
Historical Stock Chart
From Sep 2023 to Sep 2024