Phillips 66 provides updates on its midstream, chemicals and refining business

Phillips 66 is expanding its midstream and refining business in 2020 with projects in the works or under completion all along the Gulf Coast and beyond. The company said in its fourth-quarter 2019 earnings statement that its refining and chemicals business ran at 97 percent utilization. The company and its partners commenced initial operations on the 900,000 bpd Gray Oak pipeline, which is expected to reach full service in the second quarter of 2020. Gray Oak will provide crude oil transportation from the Permian and Eagle Ford areas to the Texas Gulf Coast destinations, including Corpus Christi, the Sweeny area, and its Sweeny refinery, as well as access to the Houston market. Phillips 66 Partners have a 42.25 percent effective ownership in the pipeline.