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Phillips 66 sells interest in Switzerland-based joint venture for 1.06 billion Swiss francs

Oct 14, 2024•over 1 year ago

Contract Type

agreement

HoustonEnergyOil And GasNatural Resources

Description

Phillips 66's subsidiary, Phillips 66 Limited, has entered into a definitive agreement to sell its 49 percent non-operated equity interest in Coop Mineraloel AG (CMA) to its Swiss joint venture partner for 1.06 billion Swiss francs. The proceeds from the sale will support the strategic priorities of Phillips 66, including returns to shareholders.

Company Information

Company

Phillips 66

Location

Houston, Texas, United States

About

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 14,000 employees committed to safety and operating excellence. Phillips 66 had $57 billion of assets as of June 30, 2021. For more information, visit www.phillips66.com or follow us on Twitter @Phillips66Co.

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