{"slug":"phillips-66","name":"필립스 66","name_en":"Phillips 66","ticker":"PSX","updated_at":"2026-09-11T15:32:11.744606+00:00","canonical":"https://valuechain.wiki/phillips-66","citable":"밸류체인 그래프 기준 필립스 66의 직접 연결 기업은 2곳(관계 기준 공급 1·매출 1)이고, 사슬을 2차까지 넓히면 3곳에 닿는다. 링크의 근거 출처는 10건이며 그중 1차공시가 2건이다 (valuechain.wiki, 2026-09-11 기준).","citable_en":"Per the valuechain.wiki graph, Phillips 66 is directly linked to 2 companies (1 supply, 1 revenue relationships) and reaches 3 companies within two hops; the links are backed by 10 dated sources, 2 of them primary filings (as of 2026-09-11).","kicker":"정유·미드스트림 통합사","kicker_en":"Integrated downstream energy company","lead":"필립스 66은 원유와 원료를 정제해 석유제품과 재생연료를 판매하고, NGL 운송·분별과 마케팅 서비스에서도 매출을 낸다. 원유·제품 매입, 재생원료 조달, 파이프라인 운송에 비용을 쓰며 미드스트림 자산 인수로 공급망을 넓힌다.","lead_en":"Phillips 66 refines crude oil and feedstocks into petroleum products and renewable fuels, while also earning revenue from NGL transportation, fractionation and marketing services. It spends on crude and product purchases, renewable feedstocks and pipeline transportation, and expands its supply chain through midstream acquisitions.","categories":[{"key":"refining-fuels-marketing","ko":"정유·연료 유통","en":"Refining & Fuels Marketing","theme":"oil-gas","theme_ko":"석유·가스","theme_en":"Oil & Gas","theme_kind":"sector","primary":true},{"key":"general-chemicals","ko":"종합·특수화학","en":"Diversified & Specialty Chemicals","theme":"materials-chemicals","theme_ko":"산업 소재·화학","theme_en":"Industrial Materials & Chemicals","theme_kind":"sector","primary":false}],"segments":{"parts":[{"name":"미드스트림","note":"NGL 운송·분별, 원유·정제품 물류와 저장"},{"name":"화학","note":"Chevron Phillips Chemical Company 지분 50%"},{"name":"정유","note":"원유와 원료를 정제해 석유제품 생산"},{"name":"마케팅·스페셜티","note":"정제품 판매와 특수제품 사업"},{"name":"재생연료","note":"재생디젤과 지속가능항공유 생산·판매"}],"total":"1,323억 7,600만 달러 (FY2025 매출 및 기타 영업수익, Phillips 66 2025 Form 10-K)","track":"C"},"segments_en":{"parts":[{"name":"Midstream","note":"NGL transportation and fractionation, plus crude and refined-products logistics and storage"},{"name":"Chemicals","note":"A 50% interest in Chevron Phillips Chemical Company"},{"name":"Refining","note":"Refines crude oil and feedstocks into petroleum products"},{"name":"Marketing and Specialties","note":"Refined-products marketing and specialty-products businesses"},{"name":"Renewable Fuels","note":"Production and sale of renewable diesel and sustainable aviation fuel"}],"total":"$132.376 billion (FY2025 sales and other operating revenues, Phillips 66 2025 Form 10-K)"},"returns_yearly":{"2021":8.5,"2022":49.6,"2023":33.1,"2024":-11.6,"2025":17.5,"2026":101.8},"return_asof":"2026-09-04","value_chain":{"leading":[{"slug":"eog-resources","name":"EOG 리소스","name_en":"EOG Resources, Inc.","tier":3,"returns_yearly":{"2021":88.6,"2022":56.9,"2023":-2,"2024":4.3,"2025":-11.4,"2026":44.6}},{"slug":"chipotle-mexican-grill","name":"치폴레 멕시칸 그릴","name_en":"Chipotle Mexican Grill","tier":3,"returns_yearly":{"2021":26.1,"2022":-20.6,"2023":64.8,"2024":31.8,"2025":-38.6,"2026":-0.1}},{"slug":"jpmorgan-chase","name":"JPMorgan Chase","name_en":"JPMorgan Chase","tier":2,"returns_yearly":{"2021":27.7,"2022":-12.6,"2023":30.6,"2024":44.3,"2025":37.3,"2026":12.9}},{"slug":"united-airlines-holdings","name":"유나이티드항공","name_en":"United Airlines Holdings, Inc.","tier":1,"returns_yearly":{"2021":1.2,"2022":-13.9,"2023":9.4,"2024":135.3,"2025":15.2,"2026":-3.9}}],"benefiting":[{"slug":"kinder-morgan","name":"킨더 모건","name_en":"Kinder Morgan, Inc.","tier":1,"returns_yearly":{"2021":23.8,"2022":21.2,"2023":4.1,"2024":64.4,"2025":4.8,"2026":17.5}}],"analysis":"정유·미드스트림 통합사 기업. 2026년 +101.8%로 강하게 올랐다. 수요·공급 연결은 확인되지만 상장 상대 수익률 데이터는 제한적이다.","analysis_en":"Phillips 66 operates across Integrated downstream energy company. It is up +101.8% in 2026. Its demand and supply links are known, but listed-counterparty return data is limited. It spends on crude and product purchases, renewable feedstocks and pipeline transportation, and expands its supply chain through midstream acquisitions.","analysis_asof":"2026-09-04"},"edges":[{"direction":"investor","counterparty":"엘리엇 인베스트먼트 매니지먼트","counterparty_slug":null,"confidence":"high","metric":{"type":"equity_stake_value","unit":"USD","as_of":"2025-02-11","basis":"엘리엇이 공개한 필립스 66 지분 투자액의 하한","value":2500000000,"period":"stake disclosed 2025-02-11","basis_en":"Lower bound of Elliott's disclosed investment in Phillips 66","qualifier":"at_least"},"note":"행동주의 투자자 엘리엇 인베스트먼트 매니지먼트는 필립스 66 지분에 25억 달러 이상을 투자하고 이사회 후보를 지명했다.","note_en":"Activist investor Elliott Investment Management built a stake worth more than $2.5 billion in Phillips 66 and nominated directors.","sources":[{"stance":"confirms","publisher":"Investing.com 한국","publisher_en":"Investing.com Korea","kind":"news","lang":"ko","published_at":"2025-03-05","url":"https://kr.investing.com/news/company-news/article-93CH-1387741","title":"엘리엇, 필립스 66 이사회 후보 7명 지명","title_en":"Elliott nominates seven candidates to the Phillips 66 board","excerpt":"필립스 66에 25억 달러 이상을 투자한 엘리엇 인베스트먼트 매니지먼트가 이사회 선임을 위해 7명의 후보를 지명했다.","excerpt_en":"Elliott Investment Management, which invested more than $2.5 billion in Phillips 66, nominated seven board candidates."},{"stance":"confirms","publisher":"AP 통신","publisher_en":"Associated Press","kind":"news","lang":"en","published_at":"2025-02-11","url":"https://apnews.com/article/phillips-66-elliott-oil-activist-66c1eb5d11407c267af6c1dc46ce84e9","title":"행동주의 투자자 엘리엇, 필립스 66 지분 25억 달러 이상 확보","title_en":"Activist investor Elliott builds more than $2.5 billion stake in Phillips 66","excerpt":"행동주의 투자자 엘리엇 인베스트먼트 매니지먼트는 필립스 66 지분을 25억 달러 이상 확보했다.","excerpt_en":"Elliott Investment Management has built up a more than $2.5 billion stake in Phillips 66."}]},{"direction":"investment","counterparty":"EPIC NGL","counterparty_slug":null,"confidence":"high","metric":{"type":"acquisition_consideration","unit":"USD","as_of":"2026-02-20","basis":"Coastal Bend 인수 대가, 취득 현금 차감 후","value":2200000000,"period":"acquisition completed in Q2 2025","basis_en":"Coastal Bend acquisition consideration, net of cash acquired","qualifier":null},"note":"필립스 66은 EPIC의 장거리 NGL 파이프라인과 코퍼스 크리스티 인근 분별시설을 포함한 Coastal Bend 자산을 인수해 퍼미안에서 걸프 연안까지의 미드스트림망을 확대했다.","note_en":"Phillips 66 acquired EPIC's Coastal Bend assets, including a long-haul NGL pipeline and fractionators near Corpus Christi, expanding its Permian-to-Gulf-Coast midstream network.","sources":[{"stance":"confirms","publisher":"SEC EDGAR","publisher_en":"SEC EDGAR","kind":"filing","lang":"en","published_at":"2026-02-20","url":"https://www.sec.gov/Archives/edgar/data/1534701/000153470126000006/psx-20251231.htm","title":"Phillips 66 2025 Form 10-K","title_en":"Phillips 66 2025 Form 10-K","excerpt":"회사는 Coastal Bend 인수를 완료했으며 취득 현금 차감 후 총 인수 대가는 22억 달러였다.","excerpt_en":"We completed the Coastal Bend acquisition for total consideration of $2.2 billion, net of cash acquired."},{"stance":"mentions","publisher":"Alvarez & Marsal","publisher_en":"Alvarez & Marsal","kind":"research","lang":"en","published_at":"2025-03-01","url":"https://www.alvarezandmarsal.com/sites/default/files/2025-03/9560_A%26M_460661_CPI-Energy_2025%20Midstream%20M%26A%20Outlook_FINAL_WEB%20%282%29%5B100%5D.pdf","title":"2025년 미드스트림 M&A 전망","title_en":"2025 Midstream M&A Outlook","excerpt":"22억 달러 거래로 분별시설 2곳과 퍼미안 생산지를 걸프 연안에 잇는 885마일 NGL 파이프라인을 추가했다.","excerpt_en":"The $2.2 billion deal added two fractionators and an 885-mile NGL pipeline connecting Permian production to Gulf Coast facilities."}]},{"direction":"revenue","counterparty":"유나이티드항공","counterparty_slug":"united-airlines-holdings","confidence":"high","metric":{"type":"contract_volume","unit":"gallons of SAF","as_of":"2026-04-15","basis":"유나이티드항공 지속가능항공유 공급 계약 물량","value":11000000,"period":"agreement disclosed in 2026","basis_en":"Sustainable aviation fuel volume under the United Airlines supply agreement","qualifier":null},"note":"필립스 66은 유나이티드항공에 지속가능항공유를 공급한다. 2024년 계약은 시카고와 로스앤젤레스 공급을 정했고, 2026년 공개된 최근 계약 규모는 1,100만 갤런이다.","note_en":"Phillips 66 supplies sustainable aviation fuel to United Airlines. The 2024 agreement covered Chicago and Los Angeles, and a deal disclosed in 2026 covers 11 million gallons.","sources":[{"stance":"confirms","publisher":"Phillips 66","publisher_en":"Phillips 66","kind":"ir","lang":"en","published_at":"2026-04-15","url":"https://www.phillips66.com/newsroom/delivering-the-molecule-and-the-math/","title":"분자와 수치를 함께 전달하다","title_en":"Delivering the molecule and the math","excerpt":"필립스 66 Aviation은 최근 유나이티드항공에 지속가능항공유 1,100만 갤런을 공급하기로 했다.","excerpt_en":"Phillips 66 Aviation's recent agreement will supply United Airlines with 11 million gallons of sustainable aviation fuel."},{"stance":"confirms","publisher":"Phillips 66","publisher_en":"Phillips 66","kind":"ir","lang":"en","published_at":"2024-12-05","url":"https://www.phillips66.com/newsroom/phillips-66-united-airlines-saf-supply-agreement/","title":"필립스 66과 유나이티드항공, SAF 공급 계약 체결","title_en":"Phillips 66, United Airlines sign SAF supply agreement","excerpt":"필립스 66은 ORD에서 사용할 SAF 300만 갤런을 유나이티드항공에 공급한다.","excerpt_en":"Phillips 66 will supply United Airlines with 3 million gallons of SAF for use at ORD."}]},{"direction":"cost","counterparty":"킨더 모건","counterparty_slug":"kinder-morgan","confidence":"high","metric":{"type":"transportation_contract_demand","unit":"Dth/day","as_of":"2024-03-26","basis":"El Paso Natural Gas 확정 운송 계약의 일일 계약수요","value":35000,"period":"2024-05-01 to 2034-04-30","basis_en":"Daily transportation contract demand under the El Paso Natural Gas firm service agreement","qualifier":null},"note":"필립스 66의 에너지 트레이딩 법인은 킨더 모건의 El Paso Natural Gas와 10년짜리 확정 천연가스 운송 계약을 맺었다.","note_en":"Phillips 66 Energy Trading signed a 10-year firm natural gas transportation agreement with Kinder Morgan's El Paso Natural Gas.","sources":[{"stance":"confirms","publisher":"Kinder Morgan","publisher_en":"Kinder Morgan","kind":"filing","lang":"en","published_at":"2024-03-26","url":"https://pipeline2.kindermorgan.com/Documents/EPNG/RP24-577-000_Non-Conforming_Agreement_Update_%28Phillips_66%29-20240326165733.pdf","title":"El Paso Natural Gas와 Phillips 66 Energy Trading 간 FT-1 운송 계약","title_en":"FT-1 Transportation Service Agreement between El Paso Natural Gas and Phillips 66 Energy Trading","excerpt":"계약 운송수요는 하루 35,000 Dth이며 계약기간은 2024년 5월 1일부터 2034년 4월 30일까지다.","excerpt_en":"Transportation Contract Demand: 35,000 Dth/d. Contract term: May 1, 2024 through April 30, 2034."}]},{"direction":"cost","counterparty":"셸 록 소이 프로세싱","counterparty_slug":null,"confidence":"high","metric":{"type":"output_purchase_share","unit":"percent","as_of":"2021-04-20","basis":"셸 록 공장 대두유 생산량 중 필립스 66 구매 약정 비중","value":100,"period":"supply agreement announced 2021-04-20","basis_en":"Share of Shell Rock soybean oil output committed for purchase by Phillips 66","qualifier":null},"note":"필립스 66은 재생연료 원료를 확보하기 위해 셸 록 소이 프로세싱 공장의 대두유 생산량 전부를 구매하기로 했다.","note_en":"Phillips 66 agreed to purchase all soybean oil output from the Shell Rock Soy Processing plant as renewable-fuels feedstock.","sources":[{"stance":"confirms","publisher":"Phillips 66","publisher_en":"Phillips 66","kind":"ir","lang":"en","published_at":"2021-04-20","url":"https://www.phillips66.com/newsroom/phillips-66-secures-renewable-fuels-feedstock-supply-through-investment-in-soybean-processing-plant/","title":"필립스 66, 대두 가공공장 투자로 재생연료 원료 확보","title_en":"Phillips 66 secures renewable fuels feedstock supply through investment in soybean processing plant","excerpt":"필립스 66은 공장의 대두유 생산량 100%를 구매하는 계약을 맺었다.","excerpt_en":"Phillips 66 has an agreement to purchase 100% of the plant's soybean oil production."},{"stance":"mentions","publisher":"S&P Global Commodity Insights","publisher_en":"S&P Global Commodity Insights","kind":"research","lang":"en","published_at":"2021-04-20","url":"https://www.spglobal.com/energy/en/news-research/latest-news/electric-power/042021-phillips-66-snaps-up-stake-in-soybean-processing-plant-to-supply-rodeo-renewed","title":"필립스 66, 로데오 리뉴드용 대두 가공공장 지분 확보","title_en":"Phillips 66 snaps up stake in soybean processing plant to supply Rodeo Renewed","excerpt":"필립스 66은 로데오 리뉴드용 대두유를 100%, 하루 약 4,000배럴 구매하기로 했다.","excerpt_en":"Phillips 66 agreed to purchase 100%, or about 4,000 b/d, of soybean oil for Rodeo Renewed."}]},{"direction":"revenue","counterparty":"브리티시 에어웨이스","counterparty_slug":null,"confidence":"high","metric":{"type":"contract_value","unit":"USD","as_of":"2021-12-01","basis":"브리티시 에어웨이스 지속가능항공유 공급 계약","value":null,"period":"multi-year supply beginning in 2022","basis_en":"British Airways sustainable aviation fuel supply agreement","qualifier":"confirmed_no_disclosed_value"},"note":"Phillips 66 Limited는 험버 정유소에서 생산한 지속가능항공유를 브리티시 에어웨이스에 공급하는 다년 계약을 맺었다.","note_en":"Phillips 66 Limited signed a multi-year agreement to supply British Airways with sustainable aviation fuel produced at the Humber Refinery.","sources":[{"stance":"confirms","publisher":"Phillips 66","publisher_en":"Phillips 66","kind":"ir","lang":"en","published_at":"2021-12-01","url":"https://www.phillips66.com/newsroom/british-airways-phillips-66-limited-sign-sustainable-aviation-fuel-supply-agreement/","title":"브리티시 에어웨이스와 Phillips 66 Limited, SAF 공급 계약 체결","title_en":"British Airways, Phillips 66 Limited sign sustainable aviation fuel supply agreement","excerpt":"두 회사는 필립스 66 험버 정유소에서 생산한 지속가능항공유의 다년 공급 계약을 맺었다.","excerpt_en":"British Airways and Phillips 66 Limited have entered into a multi-year supply agreement for sustainable aviation fuel."}]}]}