Phillips 66 announces new focus on chemical industry and pipelines

The American energy multinational Phillips 66 believes should get back their investments in the chemical sector and also to the pipelines, according to a statement of the company''s executives last Wednesday (03/05). So, company must pull back their investments in gas and focus on where it says believe are the greater opportunities and greater value creation. According to the Board, the Middle East and the Gulf Coast of the United States should be the most promising in the petrochemical industry to invest for the long term.
Phillips sees gasoline as a declining market, with the new American generations driving less, opting for sustainable alternatives or simply adopting more economical cars; a motion compensated by increased demand in developing countries, but that makes the company seek to expand in other markets. The Board sees a promising future thanks to shale gas that should generate cheap raw material for various petrochemical derivatives.
The offset for the natural gas sector is already being carried out by the company. At the end of 2015 the Phillips opened in Texas a complex to separate the components of natural gas and also a unit for production of ethylene.