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Phillips 66 Acquires Full Ownership of WRB Refining for $1.4B

Two major refineries in Texas and Illinois will become wholly owned by Phillips 66 with the announcement Tuesday that Cenovus Energy is selling Phillips its 50 percent stake in the company that operates them for $1.4 billion.

WRB Refining, a joint venture between the two companies, owns and operates the Wood River Refinery in Roxana, Illinois, and the Borger Refinery in Borger. Together the two refineries have a combined crude throughput capacity of 495,000 barrels per day.

Allen Pusey

Allen Pusey is a senior editor and writer at The Texas Lawbook.

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