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