Phillips 66 was incorporated in Delaware on November 10, 2011. The Company's segment includes Refining and Marketing (R&M), Midstream, Chemicals businesses & Marketing and Specialties. The Midstream segment Gathers, processes, transports and markets natural gas; and transports, fractionates and markets natural gas liquids (NGL) in the United States. This segment consists of two business lines of transportation of crude oil and other feedstocks to its refineries and other locations & delivers refined and specialty products to market; & Natural gas and natural gas liquids business which gathers, processes, transports and markets natural gas, and transports, fractionates and markets natural gas liquids. The chemicals segment manufactures and markets petrochemicals and plastics. The Chemicals segment consists of its 50 percent equity investment in Chevron Phillips Chemical Company LLC. Chemical segment is also engaged in two business Olefins and Polyolefins (O&P) and Specialties, Aromatics and Styrenics (SA&S). The O&P segment produces and markets ethylene, propylene, and other olefin products. The SA&S segment manufactures and markets aromatics products, such as benzene, styrene, paraxylene and cyclohexane, as well as polystyrene and styrene-butadiene copolymers.The refining segment buys, sells and refines crude oil and other feedstocks at 15 refineries, mainly in the United States, Europe and Asia. Under marketing & specialities segment, the Company is engaged in marketing of gasoline, diesel and aviation fuel through approximately 8,600 marketer-owned or -supplied outlets in 48 states. This segment is also engaged in manufacturing and selling of variety of specialty products, including petroleum coke products, waxes, solvents, and polypropylene.It purchases for resale and markets refined products, mainly in the United States and Europe. In addition, this segment includes the manufacturing and marketing of specialty products as well as power generation operations. The Company is subject to international, federal, state and local environmental laws and regulations.
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