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Jan 5, 2026 12:00 PM

Phillips 66 Makes Strategic UK Bet With Lindsey Refinery Asset Acquisition

Phillips 66 (NYSE:PSX) stock rose Monday, supported by company-specific developments and broader optimism around potential shifts in global oil investment flows.

• Phillips 66 stock is trading at elevated levels. What’s next for PSX stock?

Investor sentiment was also buoyed after U.S. President Donald Trump said American oil companies are preparing to invest in Venezuela’s energy sector following the removal of President Nicolás Maduro.

Lindsey Oil Refinery Buyout

On Monday, Phillips 66 reached an agreement to acquire the Lindsey Oil Refinery and its associated infrastructure, subject to customary regulatory approvals and closing conditions.

The deal follows a bidding process overseen by FTI Consulting, which has acted as special ...