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Phillips 66 to Buy Out Refining Joint Venture Partner for $1.4 Billion

Phillips 66 will pay $1.4 billion to acquire full ownership of two U.S. refineries with a combined capacity of 495,000 barrels per day to focus on refining.

  • Cenovus Energy Inc. plans to sell half interests in two U.S. refineries to Phillips 66 for $1.9 billion.
  • The deal will reduce Cenovus's refining business while enhancing its oilsands operations, as stated by Jon McKenzie.
  • Cenovus aims to complete the transaction by the end of the third quarter, subject to closing conditions.
  • Shares of Cenovus increased by about 2.6 percent, reaching $22.70 on the Toronto Stock Exchange.
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22 Articles

U.S. NewsU.S. News
Lean Left

Phillips 66 to Buy Remaining WRB Refining Stake From Cenovus for $1.4 ...

·New York, United States
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The Business JournalsThe Business Journals
Center

Phillips 66 to buy out refining joint venture partner for $1.4 billion

·United States
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The Globe & MailThe Globe & Mail
Center

Cenovus to sell WRB Refining stake to Phillips 66 for $1.9-billion

Once the deal is complete, Cenovus said its downstream business will have total crude throughput capacity of 472,800 barrels per day

·Canada
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Globe NewswireGlobe Newswire
+3 Reposted by 3 other sources
Center

Cenovus Energy to sell interest in WRB Refining to Phillips 66

CALGARY, Alberta, Sept. 09, 2025 (GLOBE NEWSWIRE) -- Cenovus Energy Inc. (TSX: CVE) (NYSE: CVE) today announced it has reached an agreement for the sale,...

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Enid News & EagleEnid News & Eagle
Reposted by
Hydrocarbon EngineeringHydrocarbon Engineering
Lean Left

Phillips 66 announces agreement to purchase remaining interest in WRB Refining LP

HOUSTON--(BUSINESS WIRE)--Sep 9, 2025-

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offshore-technology.comoffshore-technology.com

Phillips 66 agrees to acquire remaining 50% stake in WRB Refining

Phillips 66 has signed a definitive agreement for the acquisition of the outstanding 50% ownership interest in WRB Refining.

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The Record broke the news in Waterloo, Canada on Tuesday, September 9, 2025.
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