FINWIRES · TerminalLIVE
FINWIRES

Phillips 66 Board Approves $10 Billion Increase in Share Buyback Capacity

By

Phillips 66 (PSX) said Friday its board authorized an additional $10 billion of share repurchases, increasing the company's buyback capacity as the remaining authorization nears depletion.

The company said repurchases may be made from time to time through open market or privately negotiated transactions, subject to market conditions and other factors.

Phillips 66 said the timing, amount and manner of any repurchases will depend on factors including market conditions, legal requirements and other considerations, and that the program may be modified, suspended or discontinued at any time without prior notice.

Related Articles

Equities

Market Chatter: Lukoil Said to Shut Down Crude Distillation Unit After Ukraine's Drone Strike

Energy company Lukoil (LKOH.ME) shut down one of its crude distillation units following Ukraine's drone strike on its refinery in Perm, Russia, Reuters reported Thursday, citing two industry sources.Kyiv's attack caused a fire and damaged the facility's CDU-5 primary crude processing unit, which has a capacity of 12,930 metric tons per day and accounts for 34% of the plant's overall refining capacity, according to the sources.Lukoil did not immediately respond to a request for comment from.(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

$LKOH.ME
Equities

Update: Market Chatter: Exxon, Chevron Face Hurdles Trying to Tap Into Venezuelan Oil

(Updates with Exxon Mobil's response to a request for comment in the last paragraph.)Exxon Mobil (XOM), Chevron (CVX) and other big oil companies are vying for Venezuela's choicest drilling spots, but talks with Venezuelan officials have recently hit an impasse, preventing them from making big moves, The Wall Street Journal reported Thursday, citing people familiar with the matter.One key issue is that the major US oil companies are interested in many of the same oil fields, and they want to secure the most favorable regulatory and fiscal terms possible. In addition, last month's devastating earthquake delayed progress, the report said.Exxon declined to comment, while Chevron didn't immediately reply to a request for comment from.(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)Price: $154.62, Change: $-2.13, Percent Change: -1.36%

$CVX$XOM
Equities

Celanese Says Shell Unit's Damages Claim Dismissed by Amsterdam Court

Celanese (CE) said Thursday that the Amsterdam District Court dismissed the damages claim brought by Shell's (SHEL) Shell Chemicals Europe subsidiary.The court also dismissed a claim from Repsol-related entities seeking declaratory judgement of liability of Celanese and its co-defendants, Celanese said.The claims stemmed from a 2020 settlement with the European Commission regarding past ethylene purchases in North-Western Europe, according to the company.Shell did not immediately respond to' request for comment.Celanese shares were up more than 2% in Thursday trading.Price: $44.87, Change: $+0.94, Percent Change: +2.13%

$CE$SHEL