Phillips 66 CEO addresses fuel efficiency, overseas markets

As cars in the U.S. become more fuel efficient and the younger generation moves to urban areas which involve less driving, Phillips 66 CEO Greg Garland said that the export of refined products to overseas markets is the future for the refining industry.
Garland spoke at a forum on August 27, hosted by the Bartlesville, Okla. Regional Chamber of Commerce on the current status and future of the Houston-based energy pipeline, refining and marketing giant.
Refined products, like gasoline, diesel fuel, jet fuel and lubricants, are the number one export and Garland said that trend will continue.
Though gas demands in the U.S. are expected to decline by 20% in the next 10 years, demand for refined products in South America and Africa will more than offset that decline, he said.
“It’s a good future for the refining business. It’s going to be a little different than what it is today, but life is like that,” Garland said.
Phillips 66 employs about 3,000 people in Oklahoma, 2,000 of which work in Bartlesville where it is the city’s largest employer. Another 1,800 people work at the Houston headquarters. The total workforce globally is 13,500.
Since Phillips 66 broke off from ConocoPhillips in 2012 to focus independently on refining, chemicals and midstream, the company added 38 new jobs at its Conoco refinery in Ponca City which is the largest in the state.
Phillips 66 is the second largest refiner in the U.S.
(August 27, 2013)