Phillips 66 (NYSE:PSX) Q3 2023 Earnings Call Transcript

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Mark Lashier: Thank you and thanks to all of you for your questions. Our integrated and diversified portfolio continues to perform extremely well and it creates unique competitive advantage. Our strong performance and confidence in execution drives us to increase several of the original commitments in our pursuit to achieve superior returns for our shareholders. We will return $13 billion to $15 billion to shareholders by year-end 2024. We will reduce refining operating costs by $1 per barrel. We will capture over $400 million in Midstream synergies, and we will deliver $1.4 billion of cash savings by year-end 2024. We will monetize over $3 billion of non-core assets and we will enhance our commercial capabilities generating additional earnings. Our plans are ambitious. We are raising the bar and continuing to reward shareholders now and well into the future.

Jeff Dietert: Thanks Mark. If you have any additional questions, please call Owen or me. We appreciate your participation on the call today. Thank you.

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