October 30, 2025--Written by Daniel Graeber for Industrial Info Resources (Sugar Land, Texas)--Downstream markets on the West Coast of the United States are under stress, as Phillips 66 (Houston, Texas) reported Wednesday that its refining business took a third-quarter loss.
The company reported total net earnings of $133 million during the three-month period ending September 30, compared with $877 million during the second quarter. Its refining segment reported a $518 million loss, compared with earnings of $359 billion during the second quarter.
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