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Stock impact report

New mega-pipeline to open fuel floodgates for gas-starved California [Yahoo! Finance]

Phillips 66 (PSX) 
Last phillips 66 earnings: 5/1 07:00 am Check Earnings Report
Company Research Source: Yahoo! Finance
In a recent joint announcement , Phillips 66 and Kinder Morgan, Inc. said its Western Gateway Pipeline project was moving forward following the closure in the state of multiple refineries. “Customer response during the open season underscores the importance of Western Gateway in addressing long-term refined products logistics needs in the region,” Phillips 66 Chairman and CEO Mark Lashier said. A map shows where the new Western Gateway pipeline would be constructed connecting Borger, Texas to Phoenix. Kinder Morgan Once fully operational, the massive pipeline will stretch from St. Louis, MO. to California, and be able to supply 200,000 barrels per day (bpd) into Phoenix, per the details about the project. This will then replace the current 125,000 barrels AZ currently receives from California, allowing that fuel to stay and be used in the state. The news could come as a huge relief as drivers in LA and across the state continue to contend with sky-high gas prices . As of Sa Show less Read more
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