Phillips 66 Sees Refiner Consolidation Amid Sliding Demand

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Declining U.S. demand for transportation fuels will create opportunities for refining industry consolidations through mergers and acquisitions, Phillips 66 Chief Executive Greg Garland said on Wednesday. “I do think the fundamental demand shifts are going to make for opportunities to consolidate at some point in the industry,” Garland told reporters following the independent refiner’s annual…

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