# Who are Phillips 66's customers? Who does Phillips 66 earn revenue from?
Canonical: https://valuechain.wiki/phillips-66 · Facet: customers · Updated: 2026-09-11T15:32:11.744606+00:00 · Source: ValueChain.wiki (cited money-flow graph)

**Citable summary**: Phillips 66's confirmed revenue counterparties include United Airlines Holdings plus 1 undisclosed/aggregate relationship. Per the valuechain.wiki graph: 2 revenue edges, backed by 3 dated sources, 0 of them primary filings (as of 2026-09-11).

### 엘리엇 인베스트먼트 매니지먼트 (high)
- metric: equity stake value $2.5B · stake disclosed 2025-02-11 · Lower bound of Elliott's disclosed investment in Phillips 66
- note: Activist investor Elliott Investment Management built a stake worth more than $2.5 billion in Phillips 66 and nominated directors.
- [confirms] Investing.com Korea (KO, news, published 2025-03-05) https://kr.investing.com/news/company-news/article-93CH-1387741: "Elliott Investment Management, which invested more than $2.5 billion in Phillips 66, nominated seven board candidates."
- [confirms] Associated Press (EN, news, published 2025-02-11) https://apnews.com/article/phillips-66-elliott-oil-activist-66c1eb5d11407c267af6c1dc46ce84e9: "Elliott Investment Management has built up a more than $2.5 billion stake in Phillips 66."

### 유나이티드항공 (high)  → /united-airlines-holdings.md
- metric: contract volume 11,000,000 gallons of SAF · agreement disclosed in 2026 · Sustainable aviation fuel volume under the United Airlines supply agreement
- note: 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.
- [confirms] Phillips 66 (EN, ir, published 2026-04-15) https://www.phillips66.com/newsroom/delivering-the-molecule-and-the-math/: "Phillips 66 Aviation's recent agreement will supply United Airlines with 11 million gallons of sustainable aviation fuel."
- [confirms] Phillips 66 (EN, ir, published 2024-12-05) https://www.phillips66.com/newsroom/phillips-66-united-airlines-saf-supply-agreement/: "Phillips 66 will supply United Airlines with 3 million gallons of SAF for use at ORD."

### 브리티시 에어웨이스 (high)
- note: Phillips 66 Limited signed a multi-year agreement to supply British Airways with sustainable aviation fuel produced at the Humber Refinery.
- [confirms] Phillips 66 (EN, ir, published 2021-12-01) https://www.phillips66.com/newsroom/british-airways-phillips-66-limited-sign-sustainable-aviation-fuel-supply-agreement/: "British Airways and Phillips 66 Limited have entered into a multi-year supply agreement for sustainable aviation fuel."

Reverse side: https://valuechain.wiki/phillips-66/suppliers.md · Ripple: https://valuechain.wiki/phillips-66/ripple.md

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Full node: https://valuechain.wiki/phillips-66.md · JSON: https://valuechain.wiki/phillips-66.json