Phillips 66 Rises 1.6% to 278th in Market Activity as $1.4B WRB Refinery Acquisition Expands Capacity and Synergies

On September 9, 2025, , ranking 278th in market activity. The company announced a definitive agreement to acquire the remaining 50% stake in WRB Refining LP from Cenovus Energy Inc. , subject to adjustments. WRB operates the Wood River and Borger refineries, . .

With full ownership of the Wood River (Illinois) and Borger (Texas) refineries, Phillips 66 strengthens its downstream operations. The facilities process heavy and medium sour crudes, as well as light sweet crudes, producing a high volume of transportation fuels. CEO emphasized the strategic value of integrating these assets into the broader Phillips 66 value chain, unlocking low-capital, high-return projects for long-term shareholder gains. The transaction is slated to close in Q4 2025, pending regulatory approvals.

Phillips 66, a global integrated energy provider, highlighted the transaction’s alignment with its focus on refining, chemicals, and midstream operations. The refineries’ combined throughput capacity underscores the company’s commitment to expanding its footprint in North America. Management expects the deal to solidify its industry leadership while optimizing asset utilization and commercial efficiencies.

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