Phillips 66 (PSX) sells the majority in European Fuel Fuel stores

Philips 66 (NYSE:PSXShe recently revealed that she agreed to sell the majority share in her European commercial business. Let’s shed some light on development.

A refinery manager walks through a set of pipes and pumping systems, while recognizing the company’s ability to refine.

Phillips 66 (NYSE: PSX) is an integrated integrated integrated power provider and involved in refining, transportation and fuel marketing.

Phillips 66 (NYSE: PSX) recently announced that it had concluded a final agreement to strip its 65 % interest in its work in retail marketing in Germany and Austria-in which 843 fuel stations bearing a jet mark-to a consortium supported by energy equation and Stonepeak partners. PSX Jeep expects about $ 1.6 billion in pre -tax cash, which you plan to use to reduce debt and enhance shareholders ’returns. The deal, which includes 970 to supply retail sites, is expected to be closed in the second half of 2025.

As part of the agreement, Phillips 66 (NYSE: PSX) will retain a 35 percent interest in business through a newly formed joint project. The Houston -based company will continue to provide business with fuel products from the Mirro refinery in Karlsruoh, Germany, under a multi -year contract.

Mark Laccher, Chairman and CEO of Phillips 66 (NYSE: PSX), mentioned:

“This transaction provides our strategy to improve our portfolio and enhance the value of the long -term shareholders. The newly formed joint project allows us to achieve this non -nucleus origin while maintaining the ability to benefit from its future growth.”

Although we acknowledge the PSX capabilities of growth, our conviction lies in the belief that some of Amnesty International’s shares are returning more promises to make higher and limited returns than negative risks. If you are looking for a more promising artificial intelligence stock of PSX and has 100x capabilities, check our report on this The cheapest inventory of artificial intelligence.

Read the following: 10 cheap energy stocks for purchase now and 10 Energy shares are less than their value according to hedge funds.

Detection: Nothing.