Phillips 66 will lay off around half of its employees at its sole remaining oil refinery in California after shuttering operations, Bloomberg News reported on Thursday, citing a filing with California's employment regulator.
Refiner Phillips 66 beat Wall Street estimates for fourth-quarter profit on Wednesday, as a rebound in U.S. refining margins lifted earnings after a prolonged slump in 2024.
Phillips 66 is showing tangible improvement in its long-underperforming Refining Segment, driven by cost reductions, higher clean product yield, and record utilization rates. PSX benefits from discounted heavy crude - particularly Canadian and, now, Venezuelan - leveraging its industry-leading coking capacity for margin expansion. While Midstream and Marketing & Specialties remain steady, Chemi...
Stocks entered 2026 on a positive note before a global sell-off wiped out gains, driven by tariff tensions, a Greenland tug-of-war, and Japan's bond crisis. In this uncertain environment, dividends can offer security by providing steady income and downside resilience. Dividend safety requires looking beyond yield to factors such as reliability, growth, and consistency. SA Dividend Grades have d...
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