Phillips 66 to Purchase Cenovus's Interest in WRB Refining for $1.4 Billion in Cash
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Sep 09 2025
0mins
Source: Benzinga
Phillips 66 Acquisition: Phillips 66 announced it will acquire the remaining 50% stake in WRB Refining LP from Cenovus Energy for $1.4 billion, gaining full ownership of two U.S. refineries that can process approximately 495,000 barrels per day.
Operational Benefits and Financial Strategy: The acquisition is expected to simplify operations, generate $50 million in annual savings, and align with Cenovus's strategy to focus on upstream heavy oil, using proceeds to reduce debt and increase share repurchases.
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Analyst Views on XOM
Wall Street analysts forecast XOM stock price to fall
19 Analyst Rating
12 Buy
7 Hold
0 Sell
Moderate Buy
Current: 150.530
Low
114.00
Averages
132.17
High
158.00
Current: 150.530
Low
114.00
Averages
132.17
High
158.00
About XOM
Exxon Mobil Corporation is an energy provider and chemical manufacturer. The Company’s principal business involves exploration for, and production of, crude oil and natural gas; the manufacture, trade, transport and sale of crude oil, natural gas, petroleum products, petrochemicals and a wide variety of specialty products; and pursuit of lower-emission and other new business opportunities, including carbon capture and storage, hydrogen, lower-emission fuels, Proxxima systems, carbon materials, and lithium. Its Upstream segment explores for and produces crude oil and natural gas. The Energy Products, Chemical Products, and Specialty Products segments manufacture and sell petroleum products and petrochemicals. Energy Products segment includes fuels, aromatics, and catalysts and licensing. Chemical Products segment consists of olefins, polyolefins, and intermediates. Specialty Products segment includes finished lubricants, basestocks and waxes, synthetics, and elastomers and resins.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
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