Phillips 66 Partners LP
Phillips 66 Partners LP (NYSE:PSXP) is a master limited partnership formed by its investment grade refinery sponsor Phillips 66 to own, operate, and develop a portfolio of crude, refined product, and natural gas liquids midstream infrastructure assets. The partnership’s assets serve as critical infrastructure to the refinery portfolio of Phillips 66 through long-term fixed-fee throughput, storage, and fractionation agreements, with many offtake agreements under take-or-pay arrangements. PSXP also holds interests in interstate and long-haul crude and NGL transportation pipelines serving various regional demands across the US. Its parent, Phillips 66, is the second largest refiner of crude oil in the United States by refining capacity.
Stonepeak made a preferred equity investment into Phillips 66 Partners LP.