Phillips 66 Positioned for Refining Up-Cycle Amid Venezuela Uncertainty

Tuesday, Jan 27, 2026 10:42 am ET1min read
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Phillips 66's refining segment has underperformed compared to peers Valero Energy and Marathon Petroleum for several years. However, the company's recent investments and strategies position it for a refining up-cycle. Additionally, Phillips 66 has a potential upside from Venezuela, where it has a significant stake in the Petroleos de Venezuela S.A. (PDVSA) refining network. This could lead to increased refining capacity and profitability.

Phillips 66 Positioned for Refining Up-Cycle Amid Venezuela Uncertainty

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