Phillips 66

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Phillips 66 is an American multinational energy company involved in the refining, transporting, and marketing of petroleum products. Formed in 2012 as a spinoff of ConocoPhillips, the company has established itself as a key player in the oil industry. Recently, Phillips 66 made headlines by resuming direct spot purchases of Venezuelan oil from PDVSA after a seven-year hiatus, signaling a potential shift in its sourcing strategy amid changing market dynamics.