NYSE:PSXOil and Gas
Is Phillips 66’s Direct Venezuelan Crude Move And Higher Dividend Altering The Investment Case For PSX?
In February 2026, Phillips 66 sought U.S. approval to buy heavy crude directly from Venezuela’s PDVSA from April, while also lifting its quarterly dividend to reinforce its shareholder return framework.
By moving to bypass intermediaries in sourcing Venezuelan crude, Phillips 66 is aiming to sharpen feedstock economics and underpin its capacity to fund ongoing dividend growth.
We’ll now examine how the shift to direct Venezuelan crude sourcing could influence Phillips 66’s investment...