Phillips 66 (PSX) Bank of America Energy Conference Call Transcript

Phillips 66 (NYSE:PSX) Bank of America Energy Conference Conference Call November 14, 2023 4:00 PM ET

Company Participants

Timothy Roberts – EVP, Midstream & Chemicals

Jeffrey Dietert – VP, IR

Richard Harbison – EVP, Refining

Conference Call Participants

Doug Leggate – Bank of America Merrill Lynch

Kalei Akamine – Bank of America Merrill Lynch

Doug Leggate

Thanks very much indeed for being here this afternoon. So we’re going to turn our agenda back to Refining again, our first corporate fireside chat with — in the Refining sector with Phillips 66. And I wanted to extend my thanks in particular to Jeff Dietert, Vice President of Investor Relations, for bringing in Rich Harbison, EVP of Refining; and Tim Roberts, EVP of Midstream & Chemicals.

I’m going to be cohosting this one with my colleague, Kalei Akamine, who you may have noticed carrying the chair on to the stage at the end. So he’s double-teaming today, but thanks very much, everybody, for being here.

Question-and-Answer Session

Q – Doug Leggate

So gentlemen, I think we’ll just get straight into this with Q&A if that’s okay. I’d like to kick off the questions. I’m not sure who would like to best answer this. It’s a question I’ve never asked you and just to kind of set the scene a little bit. But I’d like to ask you about the portfolio structure. Obviously, you’ve got Refining, you’ve got Midstream, you’ve got Chemicals, you’ve got Marketing. But the genesis of our portfolio structure and why it continues to make sense today and the — as the portfolio evolves through the CP and the other things we’re going to talk about here in a second. So yes whoever would like to…

Richard Harbison

Good. Let me start, and then we’ll work it down the line here a little

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