CNBC's UK Exchange newsletter: Britain's jet fuel crunch — and how we got here Share [CNBC]
Phillips 66 (PSX)
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Source: CNBC
The U.K. is a net exporter of petrol but a net importer of diesel and kerosene, partly due to its shrinking refining capacity. The country's dependence on imports has been underlined by events in the Middle East. Pipework at the Humber Refinery, operated by Phillips 66, and the Humber estuary near South Killingholme, north-east England on March 11, 2026. This report is from this week's CNBC's UK Exchange newsletter. Like what you see? You can subscribe here. The dispatch If Britain should have learned one lesson from the pandemic and Russia's subsequent invasion of Ukraine, it is the importance of security of supply, whether in food, energy, fertiliser or other commodities. The Middle East crisis suggests it was not Poor supply chain resilience may soon lead to shortages in refined oil products and, in particular, diesel and jet fuel (kerosene) This is due partly to a big drop in refining capacity. As recently as the 1970s, the U.K. boasted as many as 18 refineries, but
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News
- New mega-pipeline to open fuel floodgates for gas-starved California [Yahoo! Finance]Yahoo! Finance
- Kinder Morgan, Inc. Q1 2026 Earnings Call Summary [Yahoo! Finance]Yahoo! Finance
- Phillips 66 (PSX) was upgraded by Morgan Stanley from "overweight" to "overweight".MarketBeat
- Western Gateway Pipeline Reconfiguration Could Be A Game Changer For Phillips 66 (PSX) [Yahoo! Finance]Yahoo! Finance
- California's First Gasoline Pipeline Moving Forward [Yahoo! Finance]Yahoo! Finance
PSX
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- 2/4/26 - Beat
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Sec Filings
- 4/6/26 - Form 8-K
- 4/3/26 - Form 4
- 4/3/26 - Form SCHEDULE
- PSX's page on the SEC website