Reported 3 days ago
Phillips 66 announced a $2.2 billion cash acquisition of several pipelines and distribution systems from EPIC NGL to enhance its natural gas liquids (NGL) operations. This strategic move aims to optimize its value chain in the Permian Basin and capitalize on the anticipated increase in NGL output, which is expected to outpace crude oil production by the end of the decade due to rising demand from petrochemical industries.
Source: YAHOO