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On July 16th, Iranian Parliament Speaker Mohammad Ghalibaf issued a statement on the latest developments regarding the war and the domestic situation on the evening of the 15th local time. Ghalibaf stated that Iran has never welcomed war, but in order to safeguard national security and interests, it must be prepared for battle at all times and must exert every effort. Ghalibaf pointed out that Iran should also utilize diplomatic and negotiating means to achieve and consolidate its national interests. Ghalibaf stated that a memorandum of understanding is only meaningful if all its provisions are valid and being implemented. If Iran cannot benefit from a memorandum of understanding, there is no reason to abide by it. Ghalibaf stated that everyone in Iran has a responsibility to make efforts, according to the Supreme Leaders instructions, for war, diplomacy, or both.July 16 – Three U.S. officials stated that the recent series of U.S. strikes against Iran were aimed at forcing it to open the Strait of Hormuz, and also at targeting Irans military capabilities, which the U.S. hopes to destroy before undertaking more complex operations against Iran. The recent strikes have effectively enhanced Trumps additional military options. The U.S. military stated that its latest airstrikes targeted Iranian air defense systems, coastal radar stations, missile and drone bases, as well as small vessels and other maritime assets. One U.S. official stated that these strikes can be seen as "shaping operations," weakening Irans defense capabilities to allow for more intensive U.S. military operations in the future. "This helps lay the groundwork for necessary follow-up work," the official said.Three U.S. officials said the recent U.S. strikes against Iran are increasing the U.S.s options for further escalation.July 16th - According to CBS, the U.S. Department of Defense recently assessed military action options against Cuba, including a large-scale air assault option carried out by the 101st Airborne Division. Sources familiar with the matter stated that these discussions do not indicate that the Trump administration has decided to take action. Currently, a large portion of U.S. military resources are concentrated in the Middle East, limiting the likelihood of action against Cuba. The U.S. has indicated it still prefers to push for reforms in Cuba through diplomatic and economic pressure. The Pentagon responded that it would not comment on hypothetical military action.According to CBS: The United States has explored the possibility of launching airstrikes against Cuba.

Phillips 66 Trademarks Mark Lashier will Succeed Greg Garland as CEO

Haiden Holmes

Apr 13, 2022 09:44

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Lashier, a chemical engineer who joined the firm three decades ago in the chemicals division, was named president and chief operating officer a year ago after leading Chevron Phillips Chemical Co, the company's joint venture with Chevron Corp (NYSE:CVX), since 2017.


Garland has considered refining as a mature company and has concentrated its efforts on expanding its energy infrastructure, chemicals, and establishing a presence in electric vehicle battery components. It spent around $150 million last year for a 16.5% share in Novonix Ltd, an Australian provider of lithium-ion battery materials.


Garland "built a market-leading diversified energy manufacturing and logistics organization while investing for the future and producing solid financial returns," according to Glen Tilton, lead independent director of Philips 66.


Although the Houston company's non-refining initiatives have generated great shareholder returns, its shares have lately underperformed bigger competitors that benefitted from increasing gasoline margins during pandemic lockdowns.


Lashier is expected to pursue Garland's diversification approach, which includes biofuels, hydrogen, and battery components. However, he must demonstrate that he can match competitors Marathon Petroleum Corp (NYSE:MPC) and Valero Energy (NYSE:VLO), which increased shareholder returns by selling off retail operations and diversifying into renewable diesel, analysts said.


Phillips 66 (NYSE:PSX) traded at $81.97 on Tuesday, up 13% year to date, compared to 34% year-to-year gains at Marathon and Valero and around 96% year-to-date gains at PBF Energy (NYSE:PBF).


"Lashier's task is to increase the company's value," Matthew Blair, an analyst at Tudor Pickering Holt & Co., said. "He will face inquiries regarding the company's non-refining businesses' value and what he can do to boost stock price performance and capitalize on the potential valuation."

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