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4 months ago
BRIEF-Phillips 66 sees Q2 refining crude utilization at mid-90 pct
April 28, 2017 / 5:09 PM / 4 months ago

BRIEF-Phillips 66 sees Q2 refining crude utilization at mid-90 pct

April 28 (Reuters) - Phillips 66:

* Sees Q2 refining crude utilization at mid-90 pct

* Sees Q2 global olefins & polyolefins utilization at mid-90 pct

* RINs were still a reduction to realized margin in quarter - conf call

* Phillips 66 says reduction to realized margin in quarter due to rins was lesser quarter over quarter - conf call

* Phillips 66 CEO says "we've felt like 2017 is going to look like 2016, particularly in front half of the year" - conf call

* Phillips 66 says see an opportunity for some margin improvement in the back half of 2017 - conf call

* Phillips 66 says through the first quarter and into early april, gas demand looks flattish to us at best - conf call

* Phillips 66 says seeing "good global demand" in the petrochemicals business - conf call

* Phillips 66 says in near term and certainly in 2017, see less refining capacity coming on globally than past few years - conf call

* Phillips 66 says can "certainly afford" $1 billion of sustaining capital, $1.3 billion dividend in 2017 - conf call

* Phillips 66 says sees $1 billion to $2 billion share repurchase program in 2017 - conf call Further company coverage:

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