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Refiner Phillips 66 posts profit as fuel demand hits pre-pandemic level

reuters.com · 04/29/2022 07:02
Refiner Phillips 66 posts profit as fuel demand hits pre-pandemic level

- U.S. refiner Phillips 66 PSX on Friday posted a profit for the first quarter, compared with a year-earlier loss, as demand for fuel and refined products hovered near pre-pandemic levels.

The Houston, Texas-based company said net income was $582 million, or $1.29 per share, for the quarter ended March 31, compared with a loss of $654 million, or $1.49 per share, a year earlier.


(Reporting by Rithika Krishna in Bengaluru; Editing by Anil D'Silva)

((Rithika.Krishna@thomsonreuters.com; Twitter: https://twitter.com/rithika_krishna;))