Phillips 66

Pacific Coast Oil Trust Announces There Will Be No February Cash Distribution

Retrieved on: 
Thursday, February 29, 2024

The net profits deficit must be recouped from proceeds otherwise payable to the Trust from the Net Profits Interests.

Key Points: 
  • The net profits deficit must be recouped from proceeds otherwise payable to the Trust from the Net Profits Interests.
  • Pacific Coast Oil Trust is a Delaware statutory trust formed by PCEC to own interests in certain oil and gas properties in the Santa Maria Basin and the Los Angeles Basin in California (the “Underlying Properties”).
  • Any anticipated distribution is based, in part, on the amount of cash received or expected to be received by the Trust from PCEC with respect to the relevant period.
  • Any differences in actual cash receipts by the Trust could affect this distributable amount.

Saviynt Adds SentinelOne CEO Tomer Weingarten and Former Infoblox CEO Jesper Andersen to its Board of Directors

Retrieved on: 
Tuesday, February 20, 2024

Saviynt , a leading provider of cloud-native identity and governance platform solutions, announced today that it has appointed SentinelOne CEO Tomer Weingarten and retired Infoblox CEO Jesper Andersen as Board members to help scale the company to its next phase of success.

Key Points: 
  • Saviynt , a leading provider of cloud-native identity and governance platform solutions, announced today that it has appointed SentinelOne CEO Tomer Weingarten and retired Infoblox CEO Jesper Andersen as Board members to help scale the company to its next phase of success.
  • Both Weingarten and Andersen see Saviynt as solving a critical business need with a unique opportunity to lead the market into the future.
  • “Access management is a critical piece of cybersecurity and the market for solutions to manage it is fast emerging,” Weingarten said.
  • "We are thrilled to welcome both Tomer and Jesper as advisers to the Saviynt Board.

QatarEnergy, CPChem celebrate construction start for Ras Laffan Petrochemicals Project

Retrieved on: 
Monday, February 19, 2024

QatarEnergy and Chevron Phillips Chemical today celebrated the commencement of construction of a $6 billion integrated polymers complex in Ras Laffan Industrial City, Qatar.

Key Points: 
  • QatarEnergy and Chevron Phillips Chemical today celebrated the commencement of construction of a $6 billion integrated polymers complex in Ras Laffan Industrial City, Qatar.
  • Executives from QatarEnergy, CPChem and its owner companies, Chevron U.S.A. Inc. and Phillips 66 Company, attended the ceremony.
  • CPChem is providing project management services to oversee the engineering, procurement and construction of the facility.
  • CPChem and QatarEnergy successfully operate three joint ventures in Qatar – Qatar Chemical Company Ltd., Qatar Chemical Company II Ltd. and Ras Laffan Olefins Company.

Phillips 66 Appoints Robert W. Pease to Board of Directors

Retrieved on: 
Tuesday, February 13, 2024

The Board of Directors of Phillips 66 (NYSE: PSX) has appointed Robert W. Pease to serve on the board, effective immediately.

Key Points: 
  • The Board of Directors of Phillips 66 (NYSE: PSX) has appointed Robert W. Pease to serve on the board, effective immediately.
  • “Phillips 66 is pleased to welcome Bob to the board.
  • Phillips 66 is well positioned as the leading integrated downstream energy provider,” stated Greg Garland, executive chairman of the board.
  • “Bob complements an already strong and diverse board and joins Phillips 66 after collaborative discussions with one of our largest investors.

Phillips 66 & Chevron Alum Kimberly Ruth Named VP of Business Development and Supply at MercFuel

Retrieved on: 
Monday, February 12, 2024

MercFuel, a Mercury Aviation LLC division that provides aviation fuels to the commercial aviation, general aviation, and business jet industries, today announced the hiring of Kimberly Ruth as its Vice President of Business Development and Supply.

Key Points: 
  • MercFuel, a Mercury Aviation LLC division that provides aviation fuels to the commercial aviation, general aviation, and business jet industries, today announced the hiring of Kimberly Ruth as its Vice President of Business Development and Supply.
  • View the full release here: https://www.businesswire.com/news/home/20240212390800/en/
    Kimberly Ruth, Vice President of Business Development and Supply, MercFuel (Photo: Business Wire)
    Ruth comes to MercFuel with over two decades of experience in the aviation fuels industry.
  • She also served as the Aviation Business Development Director and developed the company’s carbon offset program for business aviation flight operators and branded FBOs.
  • Prior to Phillips 66, she managed Chevron’s commercial diesel sales portfolio for the Richmond refinery, receiving the President’s Award for Innovation & Collaboration in 2014.

Chevron Phillips Chemical names Steve Prusak President and Chief Executive Officer

Retrieved on: 
Thursday, February 8, 2024

Chevron Phillips Chemical announced today that Steve Prusak, currently senior vice president, corporate planning and technology, will become president and chief executive officer, effective March 1, 2024.

Key Points: 
  • Chevron Phillips Chemical announced today that Steve Prusak, currently senior vice president, corporate planning and technology, will become president and chief executive officer, effective March 1, 2024.
  • Current president and chief executive officer, Bruce Chinn, will retire after more than 40 years in the energy industry.
  • View the full release here: https://www.businesswire.com/news/home/20240208061212/en/
    Current CPChem president and chief executive officer, Bruce Chinn, will retire after more than 40 years in the energy industry.
  • Justine Smith, currently senior vice president, petrochemicals, will become executive vice president, commercial, assuming additional responsibility for the polymers and specialties businesses.

Phillips 66 Announces Quarterly Dividend

Retrieved on: 
Wednesday, February 7, 2024

The board of directors of Phillips 66 (NYSE: PSX) has declared a quarterly dividend of $1.05 per share on Phillips 66 common stock. The dividend is payable on March 1, 2024, to shareholders of record as of the close of business on Feb. 20, 2024.

Key Points: 

The board of directors of Phillips 66 (NYSE: PSX) has declared a quarterly dividend of $1.05 per share on Phillips 66 common stock. The dividend is payable on March 1, 2024, to shareholders of record as of the close of business on Feb. 20, 2024.

Phillips 66 Delivers Strong 4Q 2023 Results, Advances Strategic Priorities

Retrieved on: 
Wednesday, January 31, 2024

Phillips 66 generated $2.2 billion in cash from operations in the fourth quarter of 2023.

Key Points: 
  • Phillips 66 generated $2.2 billion in cash from operations in the fourth quarter of 2023.
  • During the fourth quarter, Phillips 66 funded $634 million of capital expenditures and investments, $1.2 billion of share repurchases and $457 million in dividends.
  • Phillips 66 is executing its strategic priorities to increase mid-cycle adjusted EBITDA by $4 billion to $14 billion by 2025 and grow shareholder distributions.
  • Members of Phillips 66 executive management will host a webcast at noon ET to provide an update on the company’s strategic initiatives and discuss the company’s fourth-quarter performance.

Pacific Coast Oil Trust Announces There Will Be No January Cash Distribution

Retrieved on: 
Friday, January 26, 2024

The net profits deficit must be recouped from proceeds otherwise payable to the Trust from the Net Profits Interests.

Key Points: 
  • The net profits deficit must be recouped from proceeds otherwise payable to the Trust from the Net Profits Interests.
  • Pacific Coast Oil Trust is a Delaware statutory trust formed by PCEC to own interests in certain oil and gas properties in the Santa Maria Basin and the Los Angeles Basin in California (the “Underlying Properties”).
  • Any anticipated distribution is based, in part, on the amount of cash received or expected to be received by the Trust from PCEC with respect to the relevant period.
  • Any differences in actual cash receipts by the Trust could affect this distributable amount.

H Cycle Appoints Brandon Cowart as its new CEO and Heath DePriest to the Board of Directors

Retrieved on: 
Tuesday, January 16, 2024

WALNUT CREEK, Calif., Jan. 16, 2024 /PRNewswire/ -- H Cycle, an innovator in renewable hydrogen production, announced today the appointment of energy veterans Brandon Cowart as chief executive officer and Heath DePriest to the company's board of directors. H Cycle specializes in employing an inventive waste processing system and thermal conversion to harness post-recycling organic waste materials, diverting them from landfills.

Key Points: 
  • WALNUT CREEK, Calif., Jan. 16, 2024 /PRNewswire/ -- H Cycle, an innovator in renewable hydrogen production, announced today the appointment of energy veterans Brandon Cowart as chief executive officer and Heath DePriest to the company's board of directors.
  • His strategic vision and established leadership skills will guide H Cycle in achieving its long-term strategic objectives.
  • "Amidst the ongoing transformation of the nation's energy sector, I am thrilled to lead H Cycle as we produce renewable, low-carbon hydrogen through an innovative process that redirects organic waste away from the landfill," said Brandon Cowart, CEO of H Cycle.
  • DePriest, currently serving as chief operating officer at Braven Environmental, an advanced recycling company, recently joined H Cycle's board of directors.