________________________________________________________________________________________________________ Phillips 66
Operationally , we are starting to see some more movement towards an energy transition
Phillips 66 is primarily built around its core downstream refining assets , consisting of 12 global refineries that generate the bulk of revenue . “ We are also integrated with our midstream assets ,” Tim elaborates , “ which include the pipelines , terminals , and infrastructure required to get both the crude oil supply to the refineries and the product flow to market . We then have our marketing and specialty group . We don ’ t directly own our physical gas stations , but we have three domestic brands and one global one , under which we utilize third-party resources to sell our product : Phillips 66 , Conoco , and 76 here in the US and Jet in Europe . Currently , we have a limited footprint of Phillips 66 directly owned chemicals facilities , but we do make some chemicals within our company , which is an area for potential growth . The majority of our chemicals footprint is a joint venture with Chevron called Chevron Phillips ( CPChem ), and we ’ re leading the way with energy and chemical products designed to perform and produced with care .
“ Thus far , 2023 has been a good and thankfully a normal year , following the pandemic , for my team . Like many people , we ’ ve embraced new ways of working , and realized there ’ s an opportunity for some of the work that we do to be done remotely . That said , we also recognize the value of face-toface interaction . As with many other industries , we ’ re experiencing a combination of retention challenges and staff reaching retirement age , so as we bring new people into the company , it ’ s important to get the onboarding process right , which includes having the opportunity to interact with people in person .
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