From today ConocoPhillips Limited will be officially changed to Phillips 66 Limited. The name change in the UK follows ConocoPhillips’ global repositioning of its upstream and downstream operations to create two independently operated companies, which took place on May 1.
As a result of the repositioning, Phillips 66 Limited, a subsidiary of Phillips 66, is focused on downstream refining, marketing operations and trading in the UK. Despite the change in name, the company will continue to market its fuel brand in the UK as Jet.
“Although the name Phillips 66 Limited may be new to many in the UK sector, Phillips 66 already has a rich heritage in many countries across the world. This, combined with the assets we already have in place and the unrivalled expertise and knowledge of our people, ensures we are launching from a position of strength that few in the marketplace can match,” said Pete George, manager, UK and Ireland Marketing.
“Even on day one, we rank as one of the largest and best performing players in the UK industry, boasting an enviable customer base and an impressive portfolio of business divisions, including consumer-facing marketing and our world-class Humber Refinery,” added George.
He said a key part of Phillips 66’s global refinery portfolio – the Humber Refinery – is one of the most advanced in the world. Since its construction in the early sixties, it has been the focus of hundreds of millions of pounds worth of near-continuous investment in its facilities.
With a daily crude oil processing capacity of 221,000 barrels, it produces a range of light products and fuel oil, from low sulphur petrol and diesel to liquefied petroleum gas (LPG), as well as marine and aviation fuels. Approximately 70 per cent of the light oils produced in the refinery are marketed in the UK, while the other products are exported to customers and markets across Europe and the US.
Phillips 66 Limited has a diverse range of customers spanning a number of sectors, including resellers and supermarkets, as well as Jet’s 350-strong network of independently operated forecourts. Aviation and marine will continue to be key markets for the business in the UK.
“The autonomy we will enjoy as Phillips 66 Limited will give us greater focus and flexibility to anticipate and respond to the demands of the marketplace. We are excited for the future and ready to meet the needs of our customer base,” said George.