Phillips 66 Secures Lease on New Floating Storage in Singapore
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Phillips 66 (PSX) has leased a new floating storage vessel in Singapore, enhancing its fuel oil capacity in a major Asian bunkering hub. This strategic move aims to boost its trading flexibility in the region.

February 21, 2025 | 3:00 pm
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Phillips 66 has leased a new floating storage vessel in Singapore, increasing its fuel oil capacity and trading flexibility in Asia.
The lease of a new floating storage vessel in Singapore by Phillips 66 is a strategic move to enhance its fuel oil capacity and trading flexibility in a key Asian market. This could positively impact PSX's operations and market position in the region, likely leading to a short-term positive impact on its stock price.
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