PSX Beats 4Q21 Earnings Estimate -- Shares Drop Almost Four Percent -- January 28, 2022

Maybe this is why, link here: 

• Phillips 66 says the cost to maintain / repair its refineries in 2022 will be $800 - $900 million. An anlyst noted this is the highest in the history of the company.

Link here.

Huge beat:

• EPS: $2.94 vs $1.93 estimate
• compares to a loss of $1.15 / share a year ago;
• earnings surprise of 52%
• revenues: $33.57 estimate vs 22.47 billion estimate

Fuel demand rebound powers Phillips 66 profit beat or go direct to Reuters here. 

*******************************
Tight Gasoline Supply Going Forward

Link to Tom Kool.

*****************************
$100 Oil?

From the Chevron CEO, link here.