Phillips 66

The corporations on our annual list of the world's 500 largest companies combined to generate $41.7 trillion in revenue over the past year.

Fortune Global 500

Almost $20 trillion in revenue—and a record-breaking $1.87 trillion in profits. Introducing the 2025 Fortune 500, the definitive list of the biggest companies in America.

Fortune 500

Energy sector dominated this year for the first time since 2008, with 28 companies featured on the list.

100 Fastest-Growing Companies

The corporations on our annual list posted aggregate revenues of $41 trillion for the second year in a row.

Industries included in the sector are mining, oil and gas exploration and services, pipelines, refining, and utilities.

Fortune Sector Leaders: Energy

The Fortune 500, in its 70th year in 2024, ranks the biggest U.S. companies by revenue.

The corporations on our annual list of the world’s largest companies delivered a record $41 trillion in aggregate revenues.

G500-2023-Phillips 66

Phillips 66, a major operator of refineries and gas stations, climbed 37 spots in the rankings on the back of soaring crude oil prices, which boosted its revenue by 53% to $175 billion in 2022. 
<ul> 
 	<li>In an effort to expand its already lucrative natural gas business—which generated $3.2 billion in profit in 2022—Phillips 66 acquired all the publicly available shares of pipeline company DCP Midstream, amassing an 87% equity stake.</li> 
 	<li>In October 2022 Phillips 66 laid off 1,100 employees as part of CEO Mark Lashier’s attempts to find $500 million in cost savings by year-end.</li> 
 	<li>As part of the oil company’s sustainability efforts, Phillips 66 has announced that it will convert a crude oil refinery in Northern California to a renewable fuels facility that will manufacture biofuels.</li> 
</ul>

The Fortune 500, in its 69th year in 2023, ranks the biggest U.S. companies by revenue.

F500 2023-Phillips 66

Phillips 66, a major operator of refineries and gas stations, climbed 12 spots in the rankings on the back of soaring crude oil prices, which boosted its revenue by 53% to $175 billion in 2022. 
<ul> 
 	<li>In an effort to expand its already lucrative natural gas business—which generated $3.2 billion in profit in 2022—Phillips 66 acquired all the publicly available shares of pipeline company DCP Midstream, amassing an 87% equity stake.</li> 
 	<li>In October 2022 Phillips 66 laid off 1,100 employees as part of CEO Mark Lashier’s attempts to find $500 million in cost savings by year-end.</li> 
 	<li>As part of the oil company’s sustainability efforts, Phillips 66 has announced that it will convert a crude oil refinery in Northern California to a renewable fuels facility that will manufacture biofuels.</li> 
</ul>

Aggregate sales hit $37.8 trillion last year—an increase of 19%, the highest annual growth rate in the list’s history.

This year’s Fortune 500 marks the 68th running of the list.

F500 2022 Phillips 66

As the world opened up in 2021, Phillips 66 bounced back; its revenue rose 75.4%, to $116 billion, boosted by the rebound in fuel consumption. As a major operator of refineries and gas stations, the company’s profit margins can be vulnerable when oil prices are particularly high, but Phillips was still able to produce $1.3 billion in profit. In April 2022, Mark Lashier, formerly president and CEO of the Chevron Phillips Chemical Company joint venture, succeeded Greg Garland as Phillips 66 CEO.

Total revenue for the world’s biggest companies fell 4.8% to $31.7 trillion this year—the first decline in half a decade.

G500 143 Phillips 66

It was a tumultuous year for Phillips 66, the Houston-based energy company. As lockdowns rippled around the globe, demand for transport fuels for cars and planes plunged, while losses mounted industrywide. Phillips 66 was no exception: The company lost $4 billion for the full year on a 40% drop in revenues. Like its peers, the company cut operating costs and slashed capital spending. The start of 2021, too, was rocky, as a crippling February storm in Texas hit operations in the state from refineries to pipelines.

This year’s Fortune 500 marks the 67th running of the list.

F500-2021-48-Phillips 66

This year's Fortune Global 500 generated $33.3 trillion in revenues and $2.1 trillion in profits.

G500-2020-061-Phillips 66

Phillips 66 continued to expand in 2019, extending its network of pipelines. It announced an $8 billion joint petrochemical venture with Chevron and Qatar Petroleum, and pushed for an offshore export terminal in the Gulf of Mexico. The Houston-based refiner was not hiding its ambition: it wanted to go all-in on the U.S. shale boom. But relatively weak prices in 2019 helped push the company’s adjusted earnings down by about 34% from last year's figure, to $3.7 billion. Across the oil sector, 2020 started with a jolt. The January price spike gave way to the coronavirus-fueled price crash, which quickly led refineries to cut back production.

This year's Fortune 500 marks the 66th running of the list.

F500-2020-027-Philips-66

Phillips66 continued to expand in 2019, extending its network of pipelines. It announced an $8 billion joint petrochemical venture with Chevron and Qatar Petroleum, and pushed for an offshore export terminal in the Gulf of Mexico. The Houston-based refiner was not hiding its ambition: it wanted to go all-in on the U.S. shale boom. But relatively weak prices in 2019 helped push the company’s adjusted earnings down by about 34% from last year's figure, to $3.7 billion. Across the oil sector, 2020 started with a jolt. The January price spike gave way to the coronavirus-fueled price crash, which quickly led refineries to cut back production rates.

This year's Fortune Global 500 generated $27.7 trillion in revenues and $1.5 trillion in profits.

This year's Fortune 500 marks the 65th running of the list.

This year's Fortune 500 marks the 64th running of the list.

This year's Fortune 500 marks the 63rd running of the list.

Here are the World's Most Admired Companies for 2016 as ranked in their industries. See who made the list.

World's Most Admired Companies

This year's Fortune Global 500 generated $27.6 trillion in revenues and $1.5 trillion in profits.

This year's Fortune 500 marks the 62nd running of the list.

Business insiders have spoken: Asked which companies they most admire, more than 4,100 executives, directors, and analysts chose these top 50 All-Stars.

The world's 500 largest companies generated $31.2 trillion in revenues and $1.7 trillion in profits in 2014. Together, this year's Fortune Global 500 employ 65 million people worldwide and are represented by 36 countries.

This year's Fortune 500 marks the 61st running of the list. Wal-Mart claims the top spot again. See who made the list.

Global business is back. After limping through a worldwide financial crisis and economic slowdown, the 500 largest companies ranked by revenues shattered all sorts of performance records in 2013: They racked up combined revenues of $31.1 trillion, up 2.5% from 2012, and profits soared 27% to nearly $2 trillion. China’s 95 companies (up from 89 last year) posted $5.8 trillion in revenues. The U.S. has four fewer companies on the list than last year but remains (for now) the country leader, with 128 corporations on the list—including No. 1 Wal-Mart Stores—reporting $8.6 trillion in revenues. 

Wal-Mart stayed on top as its sales crept closer to half-a-trillion dollars. Apple moved into the top five. And UnitedHealth Group continued its steady climb. 

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Phillips 66 is a multinational energy company focused on refining, midstream, chemicals, and marketing. As of 2025, Phillips 66 operates a dozen crude oil refineries. Its midstream business focuses on crude oil and refined products, as well as collecting and processing natural gas. The company produces chemicals for various uses in the automotive, pharmaceutical, home, and electronics industries. The marketing arm includes 7,200 fuel stations with Phillips 66, Conoco, and 76 branding.

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Phillips 66 (PSX): Company Profile, Stock Price, News, Rankings

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H&R Block’s Andy Phillips answers the big questions around cryptocurrency and taxes.

Yes, you must claim your crypto on your tax return

Finance

Yes, you must claim your crypto on your tax return


the most common mistake that people make with taxes in general also carries into crypto and folks may begin to invest in crypto and sometimes to a large extent without really understanding the tax implications of what that means. Um And so that failure to have a good understanding of the tax consequences of those of those crypto transactions um can often lead to future mistakes. Starting a few years ago, the I. R. S. Added a direct question onto your tax return. The people have to answer whether they engaged in certain crypto related transactions for your 2021 tax return. You need to check yes and disclosed to the I. R. S. That you had crypto transactions in the following situations. So first if you received crypto in any situation other than it was just a bona fide legitimate gift. The second situation where you need to check yes is when you exchange crypto for goods or services. Maybe you sold something in the real world and instead of getting paid in cash you were paid in a virtual or crypto currency. Um Alternatively it may be a situation where you just performed a consulting or some sort of independent contractor gig. Um And instead of paying US dollar, you received virtual Cryptocurrency again you need to check yes on your tax return and you need to report the the income associated with that as well. Really the only situation where you don't have to check yes on the 10 40 is either you have no Cryptocurrency holdings or all you did was just purchase crypto with fiat currency like the US dollar during the year. You didn't dispose of any or you had Cryptocurrency at the beginning of the year, had no other transactions and still hold it at the end of the year. In those cases you don't have to check yet. Although Cryptocurrency is not stock for most tax purposes, it's treated in a very similar fashion to stock transactions. The result is you need to keep track of how much you pay for crypto different cryptocurrencies, uh sales proceeds when you sell them and then how long you held the underlying Cryptocurrency meaning the day you purchased it and the date disposed of it when you dispose of them, you generally have gained or lost depending on how much you paid for the underlying assets compared to how much you disposed of it for. Generally those gains are going to be taxed as capital gains. A couple exceptions would be those people that are getting paid in crypto um And as part of their business. Um So again, you're an independent contractor or a small business owner and you get paid in Cryptocurrency, that's actually just going to be treated along with the rest of the money you received during the year as business income or loss. Mhm. The biggest distinction amongst different types of these digital assets is N. F. T specifically may be treated as a collectible. Um There's not formal guidance on this yet. But what a collectible is is things like antiques, gold coins, fine art that are not fungible meaning you can't replace that particular asset or investment with something that's basically identical. If those are treated as a collectible, higher income taxpayers may actually pay a higher tax rate on their long term capital gains than they would um for other investments, just like Cryptocurrency, long term capital gains typically max out on just the capital gains part of 20% But collectibles can get as high as 28%. You know, the tax impact are actually different when you purchase physical real estate compared to um you know, real estate or property. In the metaverse. For example, you generally can get a mortgage when you buy a home in the real world. You may do the same in the metaverse, you may have a payment plan that you're paying off whatever the purchase prices. Um And there may be an interest component on on that payoff process with physical real estate, you may be able to deduct both your mortgage interest and your property taxes associated with that home. If you itemize deductions. On the other hand, those personal deductions won't be available for property that you bought in the metaverse, even if it seems like it's a real property in the metaverse, like a home. There are a few different consequences you can face for not reporting Cryptocurrency gains and losses on your tax return, particularly the games if you have a substantial understatement or the I. R. S. Has taken the position that you know it's it's fraud or intentional willful conduct. You may face some of those accuracy related penalties that can become pretty substantial even if you don't get into that situation. But you've under reported your crypto transactions or specifically your crypto gains and it's later that you have to report that and correct it. And you do owe additional taxes. You're gonna have a couple of things that you're gonna go. You're gonna a penalty for the underpayment of tax which is going to be figured against the amount you should have paid on the due date of your tax return versus what you actually paid and that's a small amount each month. That can add up to 25% of your total tax liability just in penalties second. Any amount that remains unpaid or underpaid after the due date of your tax return. You will be subject to interest on that. And the interest rate that you pay on underpayments to the I. R. S. It's a little over 3%. Not to mention that's just on the federal side. If you under reported on your state return you may face some of those exact same consequences if you live in a state that that requires you to file an individual income tax

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Phillips 66 in Fortune Rankings

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