Phillips 66 (PSX +2.7%) is studying "any and all options" on whether to sell its two California...

|About: Phillips 66 (PSX)|By:, SA News Editor

Phillips 66 (PSX +2.7%) is studying "any and all options" on whether to sell its two California refineries given challenges with state regulatory requirements and high costs, CEO Greg Garland tells analysts. In Q4, PSX increased its runs of advantaged crudes such as cheap inland U.S. crude and Canadian heavy oil to 67% of its overall U.S. crude slate, up from 57% Y/Y.