Mark Lashier on long-term strategy
From HBJ On the Record: An exclusive conversation with Mark Lashier, CEO of Phillips 66 · · Houston Business Journal
“We've believed for a number of years even when the world was pushing hard for net zero 2050 that refining was going to go away. We took the other side of that bet and said we think the world's going to need liquid hydrocarbons for a very long time. Now, we are taking an all the above approach, and we're investing in our existing refining base to make sure that it is good and viable for the long term.”
On , Mark Lashier, Chief Executive Officer & Chairman at Phillips 69, spoke about long-term strategy during HBJ On the Record: An exclusive conversation with Mark Lashier, CEO of Phillips 66 on Houston Business Journal.
About Mark Lashier
Mark Lashier, CEO and chairman of Phillips 66, discussed global energy market disruptions and the company's strategic investments in a May 2026 interview with the Houston Business Journal. He stated that activities in Iran and the Strait of Hormuz have "cut off a substantial amount of energy flows," noting that while the price of oil on paper was $110 a barrel, it was "more like $150, $180 a barrel" in the Atlantic basin. Lashier also said the company has been taking Venezuelan crude "when the economics make sense," with 250,000 barrels per day of capacity at its Sweeney and Lake Charles refineries. Lashier described the company's long-term outlook on refining, saying that while some believed refining "was going to go away," Phillips 66 "took the other side of that bet" and is investing in its existing refining base. He expressed concern that prolonged conflict could "tip the world into a recession," adding that the company hopes the situation "gets resolved rationally and quickly."