Phillips 66 Refines Control: A $1.4 Billion Power Play

Phillips 66 seizes full control of two major US refineries in a $1.4 billion deal, boosting its refining power and market influence. Cenovus Energy, the seller, will use the funds to slash debt and buy back shares, a move likely to please its investors. Find out how this strategic play reshapes the energy landscape for both companies and what it means for the future of oil refining. Hosted on Acast. See acast.com/privacy for more information.