Refiner Phillips 66 post smaller-than-expected loss on higher retail margins

Refiner Phillips 66 post smaller-than-expected loss on higher retail margins
WESPECH PTE LTD
8 Eu Tong Sen Street #14-94, The Central, Singapore (059818)
+65 315 904 24

03.08.2020

MOSCOW (MRC) -- Phillips 66 posted a smaller-than-expected loss as the refiner's retail marketing business, which buys and resells petroleum products, benefited from a decline in prices following the coronavirus crisis, reported Reuters.The unit buys refined products from others and resells them, pocketing the difference and benefiting from improved margins when prices are down. The unit

Full article at mrcplast.com

Back

news