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US Refining Competitive in Global Market: Phillips 66

REFINING

US refining has the ability to compete with other global markets according to Phillips 66 Chief Executive Officer Mark Lashier in an interview with Bloomberg TV this week.

  • “The US has become very competitive in refining,” Lashier said. “We’re able to compete out in the world global markets.”
  • The US market has seen strong transportation-fuel supplies this year from refiners paired with demand that has been flat to weak Lashier said.
  • Less-competitive plants elsewhere in the world are being forced to shut down, he said. As much as 700,000 barrels a day of global refining capacity is expected to be taken out of the market next year, he added.
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