Phillips 66 CEO Says We Are Still Exporting Canadian Crude Though TMX Startup Has Tightened Margins
Portfolio Pulse from Benzinga Newsdesk
Phillips 66 CEO stated at the JP Morgan Conference that the company continues to export Canadian crude despite the startup of the Trans Mountain Expansion (TMX) pipeline, which has tightened margins.
June 18, 2024 | 3:12 pm
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Phillips 66 continues to export Canadian crude despite the TMX pipeline startup, which has tightened margins. This could impact the company's revenue and stock price in the short term.
The continued export of Canadian crude by Phillips 66 despite the TMX pipeline startup indicates potential challenges in maintaining profit margins. This could negatively impact the company's revenue and stock price in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100