Log in
E-mail
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
Settings
Settings
Dynamic quotes 
OFFON

4-Traders Homepage  >  Equities  >  Nyse  >  Phillips 66    PSX

SummaryQuotesChartsNewsAnalysisCalendarCompanyFinancialsConsensusRevisions 
News SummaryMost relevantAll newsSector news 

Phillips 66 Plans to Build Terminal in Texas to Export Propane and Butane Overseas

share with twitter share with LinkedIn share with facebook
share via e-mail
0
10/31/2013 | 07:27am EST
   By Alison Sider 
 

Phillips 66 plans to build a terminal in Texas aimed at exporting propane and butane overseas to meet growing demand for those inexpensive fuels, which are being produced in the U.S. alongside oil and natural gas.

The company's terminal will be built at the company's existing site in Freeport, Texas, on the coast south of Houston, and will be capable of exporting 4.4 million barrels of fuel a month.

"There are attractive markets outside of the United States for products like butane and propane." said Tim Taylor, an executive vice president of Phillips 66, referring to high demand in Latin America and Asia as well as Europe.

Phillips 66, the refinery and chemicals business spun off by ConocoPhillips in 2012, said it is in the process of obtaining permits for the new Freeport terminal. The company anticipates final approval during the first half of 2014, with operations beginning in 2016.

Oil and natural-gas production has boomed across the U.S. as companies drill in shale formations. All that drilling has resulted in a surge of other associated fuels, including propane and butane, which are used for heating, refrigeration and even as transportation fuel for vehicles.

The trend has been a welcome development for countries around the world looking for inexpensive fuel, and for U.S. energy companies grappling with low prices at home and are seeking new outlets to ship it abroad. The U.S. became a net exporter of propane and butane for the first time last year, according to the U.S. Department of Energy's Energy Information Administration.

Companies are racing to build out storage and dock space at the Gulf Coast to boost exports of propane, butane and other fuels. Earlier this month, Williams Companies Inc. (>> Williams Companies, Inc.) and Boardwalk Pipeline Partners LP (>> Boardwalk Pipeline Partners, LP) created a joint venture to develop an export facility in Lake Charles, La.

And Enterprise Products Partners LP (>> Enterprise Products Partners L.P.) recently announced plans to build a second export terminal to handle propane and butane on the Gulf Coast, though it has not announced the location, and plans to expand its existing facility on the Houston Ship Channel in Texas.

share with twitter share with LinkedIn share with facebook
share via e-mail
0
Latest news on PHILLIPS 66
12/07 RODEO : Court orders further review of Phillips 66 refinery project
12/07 PHILLIPS 66 : gymnasts carve out their golden mark in Jenks
12/07 PHILLIPS 66 : Firm spreads festive cheer for hospice
12/06 PHILLIPS 66 : Sets World Record in Organic Solar Cell Efficiency
12/02 ENERGY TRANSFER PARTNERS LP : Trump supports Dakota pipeline – but claims ..
12/02 Buffett's Berkshire is urged to sell fossil fuel stocks
12/02 PHILLIPS 66 : NRC Receives Event Notification Report on N.J. Rad Prot, Rel Preve..
12/02 ENERGY TRANSFER PARTNERS LP : President-Elect Trump's Support for Dakota Access ..
12/02 PHILLIPS 66 : Rockford Man Pleads Guilty to Robbery and Gun Charge
12/01 PHILLIPS 66 : Buffett's firm facing pressure to sell fossil fuel stocks
More news
Sector news : Oil & Gas Refining and Marketing - NEC
12/07 CHEVRON : sets 2017 capital budget, in 4th year of spending cuts
12/07DJRussia Sells Stake in Oil Giant Rosneft to Glencore, Qatar - Update
12/07 Kremlin says Glencore, Qatari fund to buy 19.5 percent stake in Rosneft
12/07DJRussia Sells Stake in Oil Giant Rosneft to Glencore, Qatar
12/07DJShell Signs Preliminary Iran Oil Deal Despite Trump Doubts -- 4th Update
More sector news : Oil & Gas Refining and Marketing - NEC
News from SeekingAlpha
12/05 Trump team reiterates support for completing Dakota Access pipeline
12/04 Army Corp of Engineers squashes Dakota Pipeline
11/30 Energy sector surges to top of morning leaderboard
11/29 Energy stocks slide alongside crude oil in early trading
11/25 Tracking Tweedy Browne Portfolio - Q3 2016 Update
Advertisement
Financials ($)
Sales 2016 88 373 M
EBIT 2016 3 036 M
Net income 2016 1 761 M
Debt 2016 7 034 M
Yield 2016 2,81%
P/E ratio 2016 25,99
P/E ratio 2017 16,88
EV / Sales 2016 0,59x
EV / Sales 2017 0,48x
Capitalization 45 319 M
More Financials
Chart PHILLIPS 66
Duration : Period :
Phillips 66 Technical Analysis Chart | PSX | US7185461040 | 4-Traders
Full-screen chart
Technical analysis trends PHILLIPS 66
Short TermMid-TermLong Term
TrendsBullishBullishNeutral
Technical analysis
Income Statement Evolution
More Financials
Consensus
Sell
Buy
Mean consensus HOLD
Number of Analysts 19
Average target price 86,0 $
Spread / Average Target -1,2%
Consensus details
EPS Revisions
More Estimates Revisions
Managers
NameTitle
Greg C. Garland Chairman & Chief Executive Officer
Timothy Garth Taylor President
Kevin J. Mitchell CFO, Executive VP-Finance & VP-Investor Relations
Merl R. Lindstrom Vice President-Technology
Victoria J. Tschinkel Independent Non-Employee Director
More about the company
Sector and Competitors
1st jan.Capitalization (M$)
PHILLIPS 666.37%45 319
EXXON MOBIL CORPORATIO..12.98%365 199
ROYAL DUTCH SHELL A16.54%219 297
BP PLC33.74%113 552
CHINA PETROLEUM & CHEM..6.85%92 100
SAUDI BASIC INDUSTRIES..--.--%76 410
More Results