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Refiner Phillips 66 weighs broader move into electric vehicle batteries
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Refiner Phillips 66 weighs broader move into electric vehicle batteries
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Phillips 66 (PSX) Q1 2021 Earnings Call Transcript Motley Fool Transcribers © The Motley Fool Logo of jester cap with thought bubble.
Phillips 66 (NYSE: PSX)
Operator
Welcome to the First Quarter 2021 Phillips 66 Earnings Conference Call. My name is Hilary and I will be your operator for today s call. [Operator Instructions]
I will now turn the call over to Jeff Dietert, Vice President, Investor Relations. Jeff, you may begin.SPONSORED:
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Executives eye complicated post-COVID business world
Shell is installing a 42 silos to a new petrochemical facility in Monaca, Pa.
Executives from several major plastics and petrochemical firms looked back on 2020 and addressed future challenges March 9 during the online World Petrochemical Conference hosted by IHS Markit. COVID highlighted how essential our products are, said Mark Lashier, president and CEO of Chevron Phillips Chemical Co., a polyethylene maker in The Woodlands, Texas. We had record sales but also had to contend with changing demand patterns.
In the near future, said Lashier, who s retiring from the firm on April 1, the world s growing middle class will drive demand for petrochemicals. That growth then will drive the industry s operating rates, margins and overall investment.