P66: 1Q Worldwide Crude Utilization seen Low 80%% Range
1/31 3:53 PM
P66: 1Q Worldwide Crude Utilization seen Low 80% Range
OAKHURST, N.J. (DTN) --- Phillips 66 plans "heavy turnaround quarter" in its
refining segment during the current quarter, with worldwide crude utilization
rate seen in the low-80% range.
During the fourth quarter conference call, Kevin Mitchell, chief financial
officer, director and vice president, said turnaround expense for the quarter
is estimated between $290 million and $310 million. Corporate and other costs
are seen at $310 million to $330 million in the first quarter.
For full year 2025, Mitchell said turnaround costs are expected to be
between $500 million and $550 million and depreciation and amortization will be
approximately $3.3 billion including $230 million per quarter of accelerated
depreciation at the Los Angeles refinery.
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