Phillips 66 posts weak results on low energy prices
The company posted a profit of $385 million in the first quarter compared with $987 million a year earlier. Phillips 66 previously announced that they cut their capital budget for 2016 in the face of low energy prices. The company’s total consolidated capital spending fell 31% to $750 million.
More free plastics newsPlastic resin (PP, LDPE, LLDPE ,HDPE, PVC, GPS; HIPS, PET, ABS) prices, polymer market trends, and more...
- China’s PET markets extend rebound on firmer costs
- Asian ethylene-naphtha spread at almost 7-year low
- European PVC defies global uptrend
- Turkey’s PP, PE markets at a standstill amid lingering downturn
- PVC downturn persists in China’s local market despite bullish imports
- China's PP market at almost 2-year low; H2 outlook bearish
- Asian spot ethylene market plunges to decade low
- Early July expectations emerge softer in Europe’s PP market
- Import PE prices fall to lowest in more than a decade across Asia
- Tightness pushes Asian PVC markets to 3-month high