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Kremlin: During the phone call between Putin and Trump, the two sides discussed the Ukraine issue.July 5th - Ukrainian President Volodymyr Zelenskyy announced on social media on July 4th, local time, that he spoke with US President Donald Trump on Independence Day. Zelenskyy stated that during the call, the two presidents exchanged in-depth views on the latest situation on the front lines of the Russia-Ukraine conflict, diplomatic progress, and the realistic prospects for a ceasefire. They agreed to hold a face-to-face meeting during the NATO summit in Ankara to continue in-depth consultations on related issues.An advisor to the Ukrainian Interior Minister stated that Russia continues its terrorist attacks on Zaporizhia. The city has been hit at least five times.The Iraqi cabinet has authorized Basra Oil Company to sign a consulting service contract with KBR for the Basra-Hadisha oil pipeline project.U.S. Vice President Vance stated that Britain has "long been let down by its leadership" and hopes the countrys next prime minister will deliver the structural changes voters expect after years of political turmoil. "What Ive seen is six prime ministers in the last few years," Vance said. "The message to me is that there are serious problems in British politics, and people are desperately calling for major structural changes. I hope Andy Burnham—or if not him, then someone else—can deliver that change." He added that whoever becomes prime minister must find a way to get Britain back on track.

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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