Phillips 66 (NYSE:PSX) Q3 2020 Earnings Conference Call - Final Transcript

Oct 30, 2020 • 12:00 pm ET

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Phillips 66 (NYSE:PSX) Q3 2020 Earnings Conference Call - Final Transcript

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Presentation
Executive
Kevin J. Mitchell

At September 30th, we had $7 billion of committed liquidity, reflected -- reflecting $1.5 billion of cash plus available capacity on our credit facilities of $5 billion at Phillips 66 and a $0.5 billion Phillips 66 Partners.

This concludes my review of the financial and operating results. Next, I'll cover a few outlook items. In Chemicals, we expect the fourth quarter Global O&P utilization rate to be in the mid-90%s. In Refining, crude utilization will be adjusted according to market conditions.

In October, utilization has been in the mid-60% range, impacted by downtime at the Lake Charles and Alliance refineries. We expect fourth quarter pre-tax turnaround expenses to be between $80 million and $100 million. We anticipate fourth quarter corporate and other costs to come in between $220 million and $230 million pre-tax.

With that, we'll now open the line for questions.